Latest news with #DiarrhaNDiayeMbaye
Yahoo
2 days ago
- Business
- Yahoo
Ami Colé, the Black-owned Makeup Brand Sold at Sephora, to Close
Ami Colé is set to close in September. The brand, founded by Diarrha N'Diaye-Mbaye in 2021, will cease operations in September. More from WWD Chris McMillan Launches Namesake Hair Care Line at Sephora, Bringing Decades of Expertise to Styling Products EXCLUSIVE: Billy Porter Launches Black Mona Lisa, a Makeup and Skin Care Brand for Beauty Explorers Elegant Beauty Looks Paraded Down Couture Catwalks The decision comes on the heels of an expansion with Ami Colé's partnership with Sephora in 2024, and it counted L'Oréal's BOLD venture capital arm, True Beauty Ventures, Imaginary Ventures, Greycroft and Debut Capital as investors. 'I'm genuinely curious about the fate of this beauty industry — that is so multifaceted and complex, and more complex than the pace of which we're measuring success,' N'Diaye-Mbaye told WWD of the decision. 'Partners like Sephora are really trying their best, but there needs to be a sit-down of all of the minds, the brands, the retailers and the investors in the community to understand if we are going to all hold hands together or say 'we don't care' together. The misalignment is really painful.' N'Diaye-Mbaye first revealed the decision to shutter the brand in an essay in New York Magazine's The Cut Thursday. N'Diaye-Mbaye spent time in media and working at both L'Oréal and Glossier before creating the brand, which was meant to tap into the no-makeup-makeup aesthetic for melanin-rich skin. 'It was very clear that Black experiences and Black beauty were very much in the peripheral view and not really celebrated in their true glory,' she said at the time of the brand's debut. Ami Colé launched after the murder of George Floyd in 2020 and the ensuing rush of financial and retail support for Black-owned brands. As reported, that landscape has changed considerably, with funding drying up for Black-owned brands and broader DE&I rollbacks under the current presidential administration hindering institutional support. 'I worked really hard as a solo founder, and every single one of my investors can attest that I have turned every rock and stone and pebble to make sure that we were as diligent as possible,' N'Diaye-Mbaye said. 'Are we a business? Yes. Do businesses fail? Yes.' Businesses of all sizes are feeling the heat, with the Estée Lauder Cos., Coty Inc. and most recently, Shiseido Americas reducing their headcounts. 'I came to the table sometimes with a lot of very hard questions that, being a pioneer and the first brand to do a lot of things, especially at this speed, couldn't be answered,' she said. 'I can only say I tried my very, very best; I wish the fate was different. I wish this was a billion-dollar company, and every investor I spoke to in 2019 and 2020 believed it could be. It's sad that that could not come to fruition.' Best of WWD The Best Makeup in Grammys History: Kim Kardashian, Miley Cyrus, Cher and More Iconic Red Carpet Looks A Look Back at Grammys Best Makeup on the Red Carpet: Beyonce, Dua Lipa and More Photos The Best Eyeliner Brand According to Stacey Bendet, Queen of the Black Smokey Eye Solve the daily Crossword
Yahoo
4 days ago
- Business
- Yahoo
After raising over $3M, popular VC-backed beauty brand Ami Colé is shuttering
Diarrha N'Diaye-Mbaye, one of the first among the small number of Black women to raise more than $1 million in venture capital, announced on Thursday the closure of her award-winning beauty startup Ami Colé. Ami Colé creates makeup for those with darker skin colors, as those consumers often struggle to find makeup that matches their skin tone. It launched in 2021, sold through Sephora, and became a celeb favorite among the likes of singer Kelly Rowland and actress Mindy Kaling. But the 4-year-old company will now officially shutter in September. N'Diaye-Mbaye wrote about her decision to close the company in 'The Cut,' saying that 'after looking at every option, it became clear that continuing in this current market wasn't sustainable.' Her company had raised more than $3 million in venture capital, according to PitchBook, with backing from the likes of G9 Ventures, Greycroft, and angel investors Hannah Bronfman and 'The Cut' editor-in-chief Lindsay Peoples Wagner. Ami Colé did not immediately respond to our request for comment. Like many Black startups launched after the murder of George Floyd, Ami Colé rode the waves of excitement from investors and corporations looking to pour money into backing more products and initiatives that touched upon diversity, equity, and inclusion. N'Diaye-Mbaye hinted that one of the problems was tension between her and investors' expectations of a consumer retail business. While she had loyal customers, her fast nationwide growth meant pressure from investors. But her brand struggled to compete with bigger companies with deeper pockets, despite pouring a sizable chunk of its budget into marketing. Ami Colé faced the ups and downs of production versus sales in retail: one week selling straight through, and another not moving a unit. 'Instead of focusing on the healthy, sustainable future of the company and meeting the needs of our loyal fan base, I rode a temperamental wave of appraising investors — some of whom seemed to have an attitude toward equity and 'betting big on inclusivity' that changed its tune a lot, to my ears, from what it sounded like in 2020,' she wrote. The strain comes as venture funding to Black founders has hit a multi-year low in a political climate that has disavowed anything perceived as DEI. N'Diaye-Mbaye ended her announcement by saying that though this chapter in her life was ending, her work was not done. 'I still believe in beauty — at every level — and I'm looking forward to discovering what comes next,' she said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
4 days ago
- Business
- TechCrunch
After raising over $3M, popular VC-backed beauty brand Ami Colé is shuttering
Diarrha N'Diaye-Mbaye, one of the first among the small number of Black women to raise more than $1 million in venture capital, announced on Thursday the closure of her award-winning beauty startup Ami Colé. Ami Colé creates makeup for those with darker skin colors, as those consumers often struggle to find makeup that matches their skin tone. It launched in 2021, sold through Sephora, and became a celeb favorite among the likes of singer Kelly Rowland and actress Mindy Kaling. But the four-year-old company will now officially shutter in September. N'Diaye-Mbaye wrote about her decision to close the company in 'The Cut,' saying that 'after looking at every option, it became clear that continuing in this current market wasn't sustainable.' Her company had raised more than $3 million in venture capital, according to Pitchbook, with backing from the likes of G9 Ventures, Gretcroft, and angel investors Hannah Bronfman and 'The Cut' Editor-in-Chief Lindsay Peoples-Wagner. Ami Colé did not immediately respond to our request for comment. Ami Colé, like many Black startups launched after the murder of George Floyd, rode the waves of excitement from investors and corporations looking to pour money into backing more products and initiatives that touched upon diversity, equity, and inclusion. N'Diaye-Mbaye hinted that one of the problems was tension between her and investors' expectations of a consumer retail business. While she had loyal customers, her fast nationwide growth meant pressure from investors. But her brand struggled to compete with bigger companies with deeper pockets, despite pouring a sizeable chunk of its budget into marketing. Ami Colé faced the ups and downs of production vs sales in retail: one week selling straight through, and another not moving a unit. 'Instead of focusing on the healthy, sustainable future of the company and meeting the needs of our loyal fan base, I rode a temperamental wave of appraising investors — some of whom seemed to have an attitude toward equity and 'betting big on inclusivity' that changed its tune a lot, to my ears, from what it sounded like in 2020,' she wrote. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW The strain comes as venture funding to Black founders has hit a multi-year low in a political climate that has disavowed anything perceived as DEI. N'Diaye-Mbaye ended her announcement by saying that though this chapter in her life was ending, her work was not done. 'I still believe in beauty — at every level — and I'm looking forward to discovering what comes next,' she said.
