Black-owned spirit brand Nyak has announced today its launch into new national markets in addition to its newly-formed partnership with famed rapper Young M.A. A press release reports that NYAK’s initial national debut will expand across several U.S. states such as Florida, Texas, Georgia, New York, New Jersey, Missouri, Illinois, Kentucky, Delaware and Connecticut. Additionally, the brand has aligned itself with Young M.A to help represent cognac’s influence on Black and Hip Hop culture. Similar to the global impact of Young M.A’s music, Nyak also hopes to have that same effect on consumers. “Nyak is premium cognac and the culture loves cognac. We want to connect the Nyak brand to change agents in the culture…the artists who push the needle and drive our culture with their innovative artistry,” Nyak founder and serial entrepreneur Dennis McKinley says in a statement. “Our collaboration with Young M.A will be the first of many as we keep our finger on the pulse of what and who is...
Instagram model, Nyakim Gatwech, is doing her part in efforts to correct the narrative about societal standards of beauty and amassing wealth in the process. According to Celebrity How , the model has a net worth of $9 million. K nown as the “Queen of the Dark,” Gatwech was born to South Sudanese parents in Ethiopia and eventually settled in Minneapolis, after living in Buffalo, NY. Throughout her modeling journey Gatwech has been open about the discrimination and racism that she’s faced due to her complexion. During an interview with Harry Connick, Gatwech recalls one such instance during an Uber ride on her way to a job interview. The driver asked her, “If you were given $10,000, would you bleach your skin?” He believed that if Gatwech had a lighter complexion it would make it easier for her when looking for a job or finding love. Despite the negativity that she has faced, Gatwech explained to Connick that she has grown to love herself regardless. Plus, not only is she raking in...
The non-fungible token (NFT) game may seem like it’s slowly becoming oversaturated, but people are proving there is room for more with every new entry in the space. Young M.A made her proverbial mark in the space by dropping her official NFT collection on April 19. According to a press release shared with AfroTech, the New York-based rapper collaborated with Serenade’s eco-friendly NFT platform to make it all happen. Through the partnership, the rapper released an exclusive NFT capsule that highlights specific career milestones. Appropriately titled after her debut EP, the multi-platinum artist’s NFT capsule (“Herstory in The Making”) pays tribute to the captivating career that the Brooklyn emcee has amassed. While Young M.A is excited about this milestone in her career, she admits that she wasn’t all too hip to the NFT game when it was first introduced. “I wasn’t really aware of it until I saw more people doing it in the industry. My team brought it to my attention and let me know...
A new claim by Forbes suggests that celebrity startups may not be what we think they are. The outlet starts out by taking aim at both Rihanna and Kim Kardashian’s recent announcements about their latest funding rounds in their celebrity startups, questioning whether Savage X Fenty and SKIMS (respectively) were really worth the money they’d raised in recent funding rounds (Savage X Fenty raised $125 million in a Series C funding round, while SKIMS raised an additional $240 million, thus bringing its new valuation to $3.2 billion). The outlet also points out that celebrity investments (in other words, what they’ve invested from their personal checkbooks) in their own companies are often not disclosed — and neither are the real sales numbers. “All these private companies are on a PR tear and it’s even easier when a big name is involved,” said Sucharita Kodali, a retail analyst at Forrester, to Forbes. What’s more, she said, company valuations are often inflated by up to ten times their...
In the words of the pop icon herself, “that Rihanna reign just won’t let up!” Right along with the news of Savage X Fenty’s debut brick-and-mortar store in Las Vegas, it has been announced that there is more to come for the successful lingerie brand. Forbes reports that the company had a new funding round of $125 million led by Neuberger Berman.
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...
We’re going to have to get back to passing the Courvoisier Cognac after this one! According to PR Newswire, today (Sept. 15), Courvoisier® Cognac , the most awarded cognac house, announced the launch of its global philanthropic platform Foundation 1828™. Founded by Felix Courvoisier in 1828, Maison Courvoisier became a house that was not only close-knit but served as a community for artisans in the company’s hometown of Jarnac, France. Now, they’re continuing that mission through its platform, which aims to keep the entrepreneurial spirit alive by supporting small business owners and entrepreneurs with the financial and educational resources needed to thrive. “Entrepreneurs come in many different forms, from all walks of life and varying income levels. Courvoisier recognizes the importance of nurturing that drive, passion, and creativity in these individuals around the globe – especially for those who may have the odds stacked against them,” said Jon Potter, Managing Director of...
New York-based startup Andela is building up its remote engineering base to expand into other territory across the globe. Today, the global talent network — which connects companies with vetted, remote engineers in emerging markets — announced its global expansion efforts to accept applications from engineering talent in Latin and South America. By moving into these new regions, Andela’s client base will have an opportunity to lean on regional expertise and nuances to help bolster their international growth. Andela’s track-record has proven to secure opportunities for remote engineers with businesses all over the world. Its esteemed reputation is what will allow the startup company to continue supporting global talent moving forward. A press release shared with AfroTech reports that the startup has achieved a 750% increase in applications outside of Africa over the last six months, and a 500% increase within the continent. Now accepting applications from 37 countries across five...
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...
Last month, all-inclusive e-commerce platform Thirteen Lune kicked off its launch to support more Black and brown-owned beauty brands. Now the online beauty hub has raised $1 million to expand its development with help from several investors, including media mogul and entertainer Sean “Diddy” Combs, WWD reports. “I believe in the Thirteen Lune mission to build generational wealth for Black and brown business owners,” said Combs in a statement. “Nyakio and Patrick have the vision and grit to build a world-class platform, and I’m excited to be an investor and adviser.” In addition to Diddy’s participation, WWD shares that Thirteen Lune also enlisted other well-known early investors such as Gwyneth Paltrow, Naomi Watts, Gregg Renfrew of the Beautycounter, Tracey Cunningham of Mèche salon, former U.S. Ambassador Nicole Avant, venture capitalist Patrick Finnegan, and Sydney Holland of Urban and The Mystic. “Through this capital that we raised, $1 million with our friends and family, and...
More allyship in the beauty industry is needed for Black and brown-founded brands who deserve a bigger platform to showcase their work. Thirteen Lune — a first-of-its-kind e-commerce platform — is setting out to create that space for these founders in a way that resonates with their consumers and also creates more financial gains for these brands. According to a press release, Thirteen Lune was launched to create an experience for consumers that allows them to discover beauty brands founded by Black and Brown entrepreneurs. As stated on the platform’s website, Thirteen Lune is considered the world’s first fully inclusive beauty platform that redefines how Black and Brown beauty brands are viewed from a consumer and industry standpoint. The purpose of the platform is to give each beauty brand a space to both educate and engage a wider audience. Thirteen Lune was co-founded by Nyakio Grieco — founder of nyakio™️ Beauty — and Patrick Herning — founder and CEO of plus size-inclusive...