Abstract: A no-base hair relaxer composition stable on aging for use under highly alkaline conditions is disclosed. The relaxer composition is comprised of a continuous water phase having dispersed therein about 3 to about 50 weight percent oleaginous material, about 7 to about 25 weight percent emulsifier and about 2 to about 30 weight percent of a lipophilic organically modified hectorite clay gellant. These compositions may be prepared by mixing and heating the oleaginous material, lipophilic hectorite gellant and less water soluble emulsifiers to about 80.degree. C. to form the oil phase which contains no more than about 65 weight percent of the composition. Water and emulsifiers of high water solubility are mixed and heated to form the bulk of the aqueous phase, and then added to the oil phase. After continued agitation and maintenance of about 80.degree. C., the composition is cooled to about 50.degree. C. and sodium hydroxide and diluting water are added. The mixture is mixed further, force cooled about 25.