Best News Network

Retailers shine a spotlight on Black-owned beauty brands

Even when brands did create makeup for darker skin shades, those products would be sold online instead of stores.

“As a black consumer, you often do not have the opportunity to have the in-store retail experience,” Gill said.

Things began to change in 2017, when pop superstar Rihanna launched her Fenty Beauty makeup line. In two years, it became one of the top 10 selling beauty brands, alongside decades-old brands such as Mary Kay and L’Oreal-owned Urban Decay, says market research firm Euromonitor. Other companies took notice, adding more shades for darker skin or promising to give more shelf space to Black-owned brands in stores.


Still, it wasn’t until last summer’s Black Lives Matter protests that Black-owned brands started to see more interest from investors and retailers.

As of mid-2020, a study by a resource called digitalundivided identified 183 Black and Hispanic women founders who had secured at least $1 million in investor backing for their businesses, more than double the number in 2018, says Lauren Maillian, CEO of digitalundivided, which has a data base of more than 800 Black and Hispanic-women-founded companies.

But it also found that these women received less than half of 1% of venture capital investment. That’s even as their failure rate in its data base is 27% — lower than the 40% national fail rate for startups founded in 2017.


Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Life Style News Click Here 


 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.