8 Black Founders Revolutionizing Beauty's Bottom Line
The Unseen Struggle
Despite accounting for roughly 11% of total beauty spending, Black brands capture only about 2% of industry revenue. This staggering gap translates into billions of dollars in lost opportunity and highlights the need for greater support and recognition of Black-owned businesses.
Pat McGrath's Story
Iconic makeup artist and entrepreneur Pat McGrath's journey serves as a poignant reminder of the challenges faced by Black founders. Despite her brand's success, Pat McGrath Labs filed for Chapter 11 bankruptcy in January, weighed down by millions in debt. However, with nearly $30 million in new financing secured, the company has turned a corner, and McGrath has shifted from CEO to chief creative officer.
Brand Ami Colé's Rise and Fall
Diarrha N'Diaye-Mbaye's Brand Ami Colé built a cult following by centering 'clean' formulas for melanin-rich skin at an accessible price. However, despite its success, the brand ultimately shuttered in 2025 due to the challenges of competing with corporate brands and securing prime shelf space.
Meet the 8 Black Founders Redefining Beauty
This Black History Month, we're spotlighting the top Black-owned founders shaping the business. From Beyoncé's Cécred to Rihanna's Fenty Beauty, these entrepreneurs are not only breaking down barriers but also building empires in the beauty space.
Beyoncé's Cécred
Launched in February 2024 as a self-funded haircare venture rooted in her mother's salon legacy, Beyoncé's Cécred has quickly scaled to over $200 million in first-year revenue. With smash hits like the Restoring Hair & Edge Drops, the brand is revolutionizing the industry with biotech-driven formulas targeting textured hair repair.
Rihanna's Fenty Beauty
Robyn Rihanna Fenty's eponymous beauty brand exploded in 2017 with 40-shade foundations, hitting $600M+ in year-one sales and reshaping inclusivity as industry standard. With its commitment to diversity and innovation, Fenty Beauty continues to lead the way in the beauty space.
Other Trailblazers
In addition to Beyoncé and Rihanna, other notable Black founders include Chichi Eburu's Juvia's Place, Danessa Myricks' Danessa Myricks Beauty, Janell Stephens' Camille Rose, Maya Smith and Brian Smith's The Doux, Olamide Olowe's Topicals, and more. These entrepreneurs are not only building successful businesses but also creating a more inclusive and diverse beauty industry.
As the beauty industry continues to evolve, it's clear that Black founders are playing a pivotal role in shaping its future. With their innovative products, commitment to diversity, and determination to succeed, these entrepreneurs are not only breaking down barriers but also building empires in the beauty space.
