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A college connection that birthed Topicals Founder Olamide Olowe changed the trajectory of her life. As AFROTECH™ previously reported, Olowe is behind the popular skincare company Topicals, which sells skincare products for people with chronic skin conditions such as eczema and hyperpigmentation. Founded in 2020, by 2022, it had become one of Sephora’s fastest-growing brands, selling one product every minute. Meeting Richelieu Dennis Olowe’s trajectory to founder was not her initial calling. In fact, she attended the University of California, Los Angeles (UCLA) on a full-ride scholarship to participate on its track team. Additionally, she was studying to become a doctor, she said during an interview on the “God Is My Creative Director” podcast. While there, she was introduced to another student, Rechelle Dennis, the daughter of SheaMoisture Founder Richelieu Dennis. “My freshman year, I’m standing there with one of my teammates, and a woman comes over to me and is like, ‘Hey, you...
Stories that begin with the rise and fall of prominent individuals are not the most inspiring, but they offer insight into lessons learned and perspectives shifted. Through narratives by people across industries, those who “fall from grace” are often judged in the court of public opinion by how society accepts what they did and how they respond. Most recently, the world has sat and watched this phenomenon play out with Bad Boy Records and Revolt TV founder Sean “Diddy” Combs. The Combs saga has no particular ending for the foreseeable future. At the same time, much of his fate will be decided by the legal powers. However, one decision that has been made concerns his previous ownership stake in Revolt. As previously reported by AFROTECH™, the buyer of the Hip-Hop mogul’s shares was shrouded in mystery. The new owner’s identity was a closely guarded secret, with speculation running rife. It has now been revealed that the owner isn’t a single person. In a surprising twist, the media...
If one were to walk down the hair care aisle of any major big box store, there is a high chance Shea Moisture would be on the shelves. With products like shampoos, conditioners, and oils, the natural hair care line has been serving Black and Brown communities for years. But did you know the brain behind the massive beauty and hairline is Liberian-born mogul Richelieu Dennis? From Humble Beginnings To A Purpose-Driven Mission Dennis attended Babson College and began selling shea butter from his dorm room. By the early 90s, he had leveraged his dorm room sales to start the Shea Moisture line, which would eventually become a part of the parent company Sundial Brands. However, Dennis’ journey was one of hard work, selling his product from a card table in Harlem. Beyond the entrepreneurial spirit, Dennis recognized his product was not just a hustle but a connection to something greater. “But for me, there was this overwhelming sense of responsibility: there were no real products or...
Sundial Media Group is adding another media conglomerate to its portfolio. According to a news release shared with AFROTECH™, Richelieu Dennis’ Sundial Media Group (SMG) has officially acquired Refinery29 (R29), a creative digital media and entertainment platform focusing on multigenerational women. The company previously belonged to the Vice Media umbrella. “We’re very excited about the expansive ecosystem we’re building at Sundial Media Group. R29 is an incredible brand with a phenomenal team that will play an important role in reimagining how media serves the need for connection, culture, and commerce in these distinct, but complementary communities of the New General Market,” said Dennis in a press statement. In addition to the acquisition, it has also been announced that Cory Haik will serve as R29 CEO and the company will operate as a standalone business within SMG. “We’ve been admiring the work of this R29 team for a while, and we’re excited to see what they will now do...
When it comes to scaling and growing Black-owned businesses, Richelieu Dennis is the man with the master plan. He played a pivotal role in spearheading the largest consumer products transaction between a majority Black-owned company during his negotiation of the acquisition by Unilever of the company he co-founded, Sundial Brands.
Current world events have called for many to begin investing in Black-owned businesses, seeking ways to be an asset to the Black community. In light of this sudden realization, a trend on social media ensued this week that inspired users to reveal the owners behind some of our most beloved beauty-based brands. The owner The brand pic.twitter.com/xF3cxEAWNH — jamika (@jmaack) June 9, 2020 While some were shocked to find out that many brands were not fully Black-owned as previously assumed, the viral trend was adopted by Black owners as a way to uplift their business and applaud others as well. If you’re looking for wholesome Black-owned brands to invest your dollars in, reference the list below: Richelieu Dennis , CEO of Shea Moisture Photo Credit: The Network Journal Meet Richelieu Dennis, the brains behind Shea Moisture – one of the most popular hair care lines on the market. According to Fast Company , Dennis’ company, Sundial Brands, is the umbrella company that...