Goody parent company CEO shares the hair-accessories giant's innovation strategy

Goody has been getting in consumers’ hair (literally) for over 100 years.

Founded in 1907 as H. Goodman & Son, an ornamental comb business, it’s blossomed into the country’s No. 2 hair accessories brand, selling products like brushes, clips, and its signature Ouchless Elastics at retailers including Walmart, Target, and CVS.

The brand just released its largest ever collection, a Walmart-exclusive 60-piece line called Goody Tru, collaborating with three multicultural women artists—Reyna Noriega, Hola Lou, and sister trio Let It Happen—to create products from satin bonnets to hair charms.

• The line saw a 70% unit sell-through rate at the end of February, making up 66% of the top 25 hair accessory fashion items at the retailer.

Retail Brew chatted with Francesca Raminella, CEO of Goody’s parent company, Beauty by Imagination (BBI), which also owns brands like Wet Brush and Ouidad, to discuss the century-old brand’s approach to innovation.

This interview has been lightly edited for length and clarity.

What was the inspiration behind the Goody Tru line? It all started in the Covid days. We really wanted to find something that could be inspiring. And the inspiration came from doing something that was not traditional. So most brands these days, they partner with a celebrity, with an influencer, maybe with a designer of a brand that’s already famous. We found these female artists who had a lot of energy, had a lot to say, multicultural, [and] very relevant to the customer that we wanted to talk to, which basically was our current Goody customers plus some new ones that we wanted to attract.

What do you feel like is the core Goody audience? Goody is a heritage brand, right? It’s 100 years old. [It’s] shown the amazing ability to stay relevant for so many years. We’re a staple in every household. However, I think this line in particular is talking to younger millennials and some Gen Z who are really enthusiastic about how even the smallest hair accessory can change your mood.

How has Goody’s innovation strategy evolved in recent years? First of all, Goody, for years, had been a bit sleepy in terms of significant and meaningful innovation. Once Goody became part of the BBI family [in 2019, through a merger with Wet Brush-owner JD Beauty], it is our goal as a platform company to always bring meaningful innovation that solves a problem or gives a solution, but in a fun, imaginative way. We want to make sure that not only we provide what they’re looking for, but we can also inspire them. And we can also listen if they have challenges and they need solutions. As an example, I think one of the biggest innovations on top of Goody Tru that we’ve brought to the table is Planet Goody, a sustainable hair accessory line, which was launched in 2020. We know that over 40% of people really care for products that are eco-friendly. They didn’t have any option from that standpoint a couple of years ago for accessories.

How much does Goody pay attention to trends? They’re very important. But as Beauty by Imagination, we want to bring something that’s meaningful. We don’t necessarily run after every fad that happens, on a daily, weekly basis, but we do monitor trends that have a connection to the consumer. So for example, sustainability—yes, it’s a trend, but it’s a sustainable trend, pun intended. Anything that’s a bit gimmicky, or kind of cute, that we can perceive that it’s going to be in and out, we’re less interested in; we leave it to more of the fast fashion brands, if you know what I mean. But this doesn’t mean that we’re not on trend. When you’re looking [at Goody Tru]...obviously, it’s in line with trends, but it does have longevity; most of those products you could use for a long time.

Do you feel like Goody is a brand that is able to capture consumers throughout their lifetime? Yes, absolutely. We create innovation to do that, to be able to speak specifically at any age. But most importantly, we also want to do it with any hair type, with any specific need that the customer might have, any type of hair…I really think that we’re an omni-population brand on top of [being] omni-channel.

What do you feel like continued growth looks like for Goody? Bringing younger people on board with the brand—that’s something that we will continue to do. So for, specifically for Goody Tru, we understand that we’ve been able to reach a lot of Gen Z, so we’re gonna go to the next generation as well and bring them to Goody as soon as possible in their lifetime.