This AEW twist created plenty of intrigue — now they have to capitalize
The end of last week's 'Dynamite,' which made it the longest-running wrestling show ever on the Turner networks, felt a little bit like a re-creation — on a lesser but more logical scale — of Lex Luger defeating 'Hollywood' Hulk Hogan for the world championship in WCW August 1997.
It was the first time the WCW locker room got to celebrate a big win over the nWo, just like AEW did last Wednesday when Samoa Joe, Katsuyori Shibata and 'Powerhouse' Hobbs defeated the Death Riders for the Trios Championships last Wednesday. It got a huge reaction from the Boston crowd and really came off as an important and feel-good moment.
You also saw Swerve Strickland neutralize the Young Bucks' attempt to help the Death Riders as that feud grows, while Willow Nightingale took out Marina Shafir. The battle lines are clearly being drawn.
3 From Left: Jon Moxley, Claudio Castagnoli and Wheeler Yuta of the Death Riders on April 16, 2025.
Ryan Loco
Like Luger putting Hogan in the Torture Rack, we got Samoa Joe putting AEW world champion Jon Moxley to sleep in the Coquina Clutch. It earned Joe an AEW championship match against Moxley after the Death Riders threw a temper tantrum on 'Collision' that only elevated the moment more.
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Early on, the company forged a partnership with hair stylist to the stars Chris Appleton, who used Color Wow's products on his clients including Jennifer Lopez, the Kardashians and Ariana Grande. In February 2021, Color Wow launched the 'Money Masque' with Appleton, a $45 hair treatment for 'super glossy, expensive-looking hair.' A number of Color Wow's other products were inspired by Federici's personal hair struggles. The 'Dream Coat Spray' came about after the hair care mogul attended an Aerosmith concert at Jones Beach. 'I remember I blew out my hair perfectly, which would take me a long time… and went to the ladies' room halfway through, looked in the mirror and was appalled,' she recalls. 'It was a massive, and I mean massive, head of frizz.' John Frieda and Gail Federici At John Frieda, Federici had helped develop Frizz-Ease, which made it easier to blow dry frizzy hair into smooth locks. But the products didn't stand up to humidity. She and Cincotta got to work. 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Some are still scientifically impossible, she says, but others may be only months away. If all testing goes well, Color Wow is hoping to launch a 'pretty major product' next summer. Photos, From Left: Daniela Amodei, Selena Gomez, Gwynne Shotwell. Illustration by Ben Kirchner for Forbes The beauty industry isn't looking quite as attractive as it was a few years ago. Multiple brands acquired in the period leading up to the Covid-19 pandemic or during it have since seen their valuations sink. One prominent example: Olaplex Holdings, a hair brand developed by two chemists that advertises itself around strengthening technologies, debuted on the Nasdaq with a valuation of $15.9 billion in 2021. Today, the company is worth just $900 million. By focusing on solving specific issues, starting with frizz and graying roots, Color Wow has tapped into a lucrative trend, explains Dan Su, a beauty analyst at Morningstar. 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Two or three decades ago, 'if you had frizzy hair or if you wanted to treat your hair after coloring, there were probably not a whole lot of options out there compared to today,' adds Su. Despite the increased competition and downturn, there are some blockbuster beauty deals still breaking through. In May, publicly traded e.l.f. announced that it was acquiring Hailey Bieber's skincare and makeup company Rhode in a deal that is potentially worth $1 billion, though around $200 million of that is tied up in the company meeting certain benchmarks post-acquisition. 'I think there's definitely still appetite from large consumer product companies,' Anderson says of the M&A environment in beauty. 'We've seen a lot of them get bought by Unilever and stuff like that… There's still appetite for a good brand.' In April, Reuters reported Color Wow was exploring a sale at a $1 billion valuation. Federici confirms she's been approached by potential buyers for five years. 'The timing has just not been right for us,' she says, adding that they're 'talking and seeing what makes sense.' If she were to sell, Federici recognizes she might end up in a similar position as after the John Frieda sale. 'I can't imagine not doing anything,' she says. But at the same time, she seems to be feeling a familiar limitation with her own industry. 'Every single formula of ours is completely different because it's a different issue that we're addressing. But at the end of the day, it's still hair care products. I think at some point I would like to figure out some way to make a difference in another way.'
