The business of hair extensions has proven to be resilient to the tough economic times, with sales rising year on year – and thought to be up to £60m a year. The trade in human hair has gone global, with women across the world buying, selling or donating their hair, and the UK is no exception. HM Revenue and Customs has seen £38m worth of hair imported into the country, placing the UK in the top three importers of human hair in the world.
According to IBISWorld, the revenue from hair and beauty salons will be £3.64bn in 2012-13, with hair extension products and services predicted to make up between £45m and £60m of that. Some leading companies in hair extensions supply up to 1000 salons across the country and claim as much as 70% growth over the last 5 years.
Upmarket salons in central London can charge up to £900 for extensions that last 6 months. Profits from treatments such as cuts, colours and blow-dries have remained static in the last year, whereas many salons have seen profits from the extension side of the business grow as much as 60% year on year. Stylists, who used to do two or three extensions a month might now see two or three clients a day for extensions. With celebrities such as Cheryl Cole, Mischa Barton and the Saturdays’ Rochelle Wiseman choosing to have extensions, the trend looks set to continue.
To enquire about hair extensions, please get in touch with Bond Hair, we look forward to discussing your new hairstyle!