EXCLUSIVE: Topicals Founder Tells All About New Holding Company

25 May

Courtesy of CODB Textured hair care brand, Bread Beauty Supply, just found a new home with Cost of Doing Business (CODB). This brand new holding company was founded by Topicals CEO Olamide Olowe and president Sochi Mbadugha, who are also now Bread’s new strategic advisors. From Topicals’s clever brand films to Bread’s cheeky branding, like their trademarked scalp massager, “scalp-thingy,” the acquisition is one that makes total sense—especially as one of CODB’s first. “Typically when a Black-owned business gets acquired, so many things are changed and altered in a way that isn’t serving our community,” Olowe tells ESSENCE exclusively. That’s why, for Bread founder Maeva Heim, being acquired by another Black business is the point. “They understand what it takes to build...

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17 Apr

Native Deodorant Founder to Exit P&G

by Beautifaire101

Beauty, Featured

The founder and chief executive officer of Native, the natural deodorant and personal-care company that Procter & Gamble paid $100 million for in 2017, is exiting the business. Moiz Ali Stephen Leek/WWD Moiz Ali, who founded the business in 2015, is leaving as of Jan. 31. The choice is mutual, Ali and P&G said, and is supposed to permit Ali to shift back into entrepreneur mode. In an internal e-mail, P&G said it “respects and supports” Ali’s departure. Since P&G acquired Native, the brand has quadrupled in size and is nearing $100 million in sales, executives said, partially by expanding its reach in brick-and-mortar retail with Goal, Walmart and Walgreens. Ali, who has invested in dozens of tech start-ups and serves as a mentor to...

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21 Mar

Skincare Company Founder Brandon Truaxe Fired

by Beautifaire101

Beauty, Featured

Skincare Company Founder Brandon Truaxe Fired

A Canadian judge ruled Friday morning to oust Deciem founder Brandon Truaxe. The judge granted an injunction from the Estée Lauder Cos. Inc., searching for to have Truaxe removed and co-ceo Nicola Kilner appointed the only, interim ceo. The injunction followed Truaxe’s Monday Instagram post where he unilaterally shut down the business. Tuesday, stores began closing, and Wednesday afternoon, Lauder — which owns a 28 percent stake within the business — filed for an injunction in Canada, searching for to oust Truaxe from the corporate’s board and his ceo position (he referred to himself as “employee,” not ceo). Andrew Ross, executive vice chairman of strategy and latest business development at Lauder, and Pasquale Cusano, are actually the corporate’s only board members. Deciem is anticipated...

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23 Feb

Monday Haircare’s Founder Has Made One other Hair and

by Beautifaire101

Beauty, Featured

The mind behind Monday Haircare is at it again. Jaimee Lupton, who founded the “liquid gold” hair care business that has since gone viral and brought in lots of of tens of millions in sales, is bringing one other brand to the usbeauty market. Called Osāna, the brand is supposed to democratize premium body and hair care — à la Monday, but grown up, founder Jaimee Lupton said — with shampoos, conditioners, body washes and body lotions. Prices are under $10. The success of Monday, which can be introducing bath and body stock keeping units, gave Lupton the boldness to go deeper into those categories, she said. “We’re in 33 countries, 100 retailers, 50,000 doors and on course to do $200 million in retail...

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