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Inclusive e-commerce beauty brand thirteen lune, backed by Diddy, Gwyneth Paltrow, and more, has closed a $3 million seed round led by venture capital firm Fearless Fund. “We are delighted to welcome thirteen lune into the Fearless Fund family,” says Arian Simone, President and Chief Executive Officer of Fearless Fund, according to Essence. “Nyakio has created a groundbreaking space to foster inclusivity in the beauty and wellness industries and we are excited to support the brand as they continue to scale over the next few years.” As a Black woman founder, receiving funding does not come easy. In fact, only 93 Black women have received venture capital funding over $1 million as of December 2020. Nyakio Grieco — founder of thirteen lune — learned firsthand how difficult raising money can be as an entrepreneur. She was fortunate to collect funds from friends and family to debut her brand into the market. The new funds marks a hopeful step forward to create a new landscape for more...
The NAACP has sealed a partnership with Hello Alice, and it’s a pinnacle moment for Black entrepreneurs. In hopes of creating a new future for Black businesses, the civil rights organization will be acquiring an ownership stake in one of the world’s leading platforms to spur development and growth for small Black-owned businesses. “To champion true racial equity, we need to address the long-standing economic inequality that has left Black communities underfunded and undervalued for centuries,” NAACP President & CEO Derrick Johnson said in a press release. “According to the U.S. Small Business Administration, today there are an estimated 2.6 million Black-owned businesses, and this first-of-its-kind partnership is a pivotal step towards putting Black business at the forefront of our economy and as a result, building generational wealth and economic power for Black communities.” Before the NAACP’s investment, they tapped Hello Alice to launch the Black-owned Business Resources to...
Cantu Beauty and the United Negro College Fund (UNCF) are here to bless some nontraditional students with funding for programming and scholarships! According to PR Newswire, the award-winning multicultural hair care brand will invest $150,000 for nontraditional students at Historically Black Colleges and Universities (HBCUs) across the nation. “Higher education is a catalyst that propels Black and brown communities forward,” said Dametria Mustin , global vice president of marketing, Cantu Beauty in an official statement. “Cantu continues to remain committed to paving the way for the next generation of leaders, entrepreneurs, and shapers of our community through financial support and seminars preparing nontraditional college students for success early on in their careers.” Nontraditional undergraduate students include those who may have delayed their enrollment into postsecondary education, attend college part-time while working full-time and also have dependents other than a spouse....
Black women-owned beauty businesses deserve more funding to help jumpstart their revolutionary ideas, and thanks to the PITCH PLEASE! competition a few lucky entrepreneurs will be able to do just that. PITCH PLEASE! — a pitch competition powered by Pull Up For Change’s Impact Fund and New Voices Foundation — gathered several up-and-coming Black women-owned beauty brands to pitch their best business ideas that aim to disrupt the industry. After sharing why these brands are the next big thing to help shift the beauty landscape, judges announced this year’s finalists during the 2021 Essence Festival. Winners of the competition — who took home $100,000 — include holistic wellness company Peak and Valley — which provides sustainably packaged, mindfully sourced, and inclusive products; and clean lifestyle beauty brand Peculiar Roots — which specializes in a unique line of products specifically designed to care for locs and natural hair. Other winners include plant-based skincare and...
When it comes to hard work and perseverance, Janell Stephens has the game on lock! The mix-master, founder, and CEO of Camille Rose joined Black Tech Green Money podcast host Will Lucas to discuss the radical shift in the beauty industry, utilizing technology to scale, and more. “You cannot have this great idea and keep procrastinating and putting it to the side,” Stephens told Lucas on the latest episode. Before Camille Rose took the world by storm, the beautypreneur would leave her full-time job and get right in the kitchen, mixing and formulating the product that has easily become a household name. “I tell everybody that you can have the idea but you have to put the drive and the passion,” continued Stephens. “It truly has to be your destiny.” She shares that while having passion is a major key, it must be coupled with the work ethic to truly make things work. “ Besides having your passion, you have to get up and do the work and apply pressure or apply that one step that goes...
From eye surgeon to emerging entrepreneur! Dr. Anika Goodwin Hilderbrand is the entrepreneur behind the magnetic lash brand that appeared on ABC’s “Shark Tank.” “Lashes are the new boobs,” shared Dr. Hilderbrand with the Sharks according to an official press release. “Every woman wants a bigger, better pair.” Dr. Hilderbrand offered the Sharks a $75,000 investment opportunity in exchange for 5 percent of her company. Not only did she catch the attention of the Sharks, but Dr. Hilderbrand walked away with a $100,000 offer from fashion entrepreneur Kendra Scott. “It was surreal,” said Dr. Hilderbrand when asked about the experience on “Shark Tank.” “I have yet to watch it back all the way through by myself because there is still a tiny bit of disbelief that it really happened. The most rewarding part was having them say complimentary things about my products. It really let me know that my goal to have an amazing offering had been achieved.” As a board-certified ophthalmologist who...
You can now buy haircare products for the young king in your life thanks to this Black-owned business. After initially launching as a direct-to-consumer (DTC) brand in December 2019, Young King Hair Care decided to revise its go-to-market strategy, test various digital and social campaigns and engage with bloggers and influencers within their community — a move that ultimately led them to new levels of success. According to PR Newswire, not only did the changes lead to more sales than anticipated, but also to their products being sold on the shelves of Target and Walmart within their first year. Founded by Cora and Stefan Miller, Young King Hair Care is the first multicultural beauty brand for young men. After an experience or lack thereof, with finding products for their own young son, the couple set out to create a grooming line that not only appealed to young boys but is also plant-based and vegan. The line also promotes a daily grooming regimen that promotes textured hair...
Camille Rose — one of the largest Black-owned hair-care brands in the U.S. today — is not new to mass retail partnerships, as it has existing relationships with retailers like Target, Sally Beauty, CVS, and more. After being in business for over 10 years, Camille Rose has announced today that it has scored its most distinguished partnership deal to date with Ulta Beauty, launching in both physical U.S. stores and online, according to Glossy. Retail Brew reports that after becoming the most-requested brand from Ulta shoppers, the retailer reached out to form the new partnership. “Ulta will heighten our awareness and provide a different consumer, one who may be more ingrained in the beauty experience,” founder Janell Stephens told the outlet. The news of this new partnership arrives after Ulta announced a grand diversity plan to do a bigger push behind Black-owned beauty brands and double the amount of brands stocked at its store locations. Similar to the retailer’s action plan, we’ve...
Thanks to COVID, this year’s NYFW (New York Fashion Week) certainly looks different than it did from years past. However, 20 Black-owned fashion and beauty brands are still receiving the benefits and the “signal boost” that the unique fashion opportunity provides. According to Forbes, IMG — which is the event producer of NYFW — has launched “The Drops,” which is a fully interactive show that allows people to live-stream fashion shows featuring up-and-coming Black design houses like Radarte x Virgil Normal, Prabal Gurung, LaQuan Smith and AARMY. What’s more, NYFW has enlisted the aide of Rajni Jacques, beauty expert and fashion director at Allure, to curate a “kit” featuring Black-owned beauty brands. The kit will be called “The Beauty Edition: Glow,” and will be released in partnership with Visa. View this post on Instagram A post shared by NYFW (@nyfw) Even better still, all of the brands featured in the specially curated, limited edition beauty box will receive a grant from...
The year 2020 was — to say the least — a crazy year, but according to retail giant Nordstrom, last year was a year for “reflection.” According to a recent press release put out by the company, executives were taking notes in the wake of the social and political upheavals of 2020. The Black Lives Matter movement , amongst many other movements, let many Fortune 500 companies know — in no uncertain terms — that “window dressing” wasn’t going to be enough. People were tired of being used as pawns during one month of the year, only to be tossed aside when it was no longer politically expedient to champion their causes. “We are a part of the communities we serve, and that means we have a responsibility to create a sense of welcoming and belonging for all,” said Pete Nordstrom, chief brand officer and president of Nordstrom, Inc., in a statement . “We know our impact extends beyond our own walls and we’re committed to taking steps to be a part of the solution by making Nordstrom a better,...
As a result of the overt racial injustice in the U.S., a major push to #BuyBlack has gained fresh energy. The news cycle is on overdrive with Black businesses you should support. While there have been several lists of Black-owned businesses to pop up across Instagram and Twitter, there are some forgotten companies that have a Black founder at the helm unknowingly. Some owners are just super low-key while some brands boast such diverse and inclusive marketing that it’s easy to miss whose in charge. Here are eight well-known beauty, fashion, and food businesses that you didn’t know were Black-owned. Briogeo Hair Care Often seen while scrolling through the Sephora app or YouTube hair tutorials, Briogeo is a clean-ingredient collection founded by Nancy Twine. The daughter of a chemist, Twine learned to make beauty products from scratch at a young age. Later, the University of Virginia alumna used that knowledge combined with her finance degree to launch a customizable line for several...