The Black Wall Street Times的动态

?? Funding for Black beauty brands has plummeted — but Black consumers are outspending the market. ?? ?? In 2024, Black-founded beauty brands raised just $16 million, down from $73 million in 2022, while Black consumers are spending $9.4 billion globally on beauty ?? I was privileged to contribute to Vogue Business' piece, "How Black-Owned Beauty Brands Find Funding" by Nateisha Scott. My contribution ??: The trifecta for success: capital, connections, and customers. Balancing community growth with scalability is key to winning! Here are some other expert must-haves that stood out: ? Retail success beyond DTC is crucial for beauty brands. – Jo?l Palix ? AI is transforming customer experiences. How’s it playing a role in your business? – Nicole Krystal Crentsil ? Innovation is the new investor magnet. What’s yours? ? Deals are still happening for Black-owned brands that show the right financial discipline and innovative product-market fit. – Hannah Bronfman ? The shift toward profitability over growth is real. Strategic retail partnerships are essential. – Nicole Krystal Crentsil Shout out to the founder warriors featured — Ruka Hair Varaidzo Tendai Moyo, Noelly Michoux, 4.5.6, Ori Lifestyle, Titilolami Bello, and KOBA skincare Therese M'Boungoubaya — for leading the charge. ???? Big ????, Nnenna https://lnkd.in/d2gZy2Du #voguebusiness #beauty #beautyindustry

My three-part series about how phenomenal Black entrepreneurs in beauty built, scaled and funded their businesses rolls out today. Check it out: #blackbeauty #blackentrepreneurs #blackbusiness

The Body Shop's fall from grace is a case study of how even the most beloved brands can lose their way. Founded by the inimitable Anita Roddick in 1976, The Body Shop grew from a quirky Brighton boutique to a global symbol of activism and ethical consumerism. Yet today, it is closing stores and facing allegations of financial mismanagement. What happened, and what lessons can brands learn? #brandmanagement #acquistion #brandpartnership

Exciting news from PuffCuff! This May PUFFCUFF on HSN for our debut showcase. Our journey to this moment began last February when I attended the Women in Retail Leadership Circle Conference in Arizona last year, securing pivotal connections with influential buyers from HSN, Forever 21, and meeting the inspiring Arlan Hamilton. A year of hard work and strategic networking has prepared us for this significant opportunity. PuffCuff is set apart by its unique design, tailored for thick, curly, or textured hair, providing a non-binding, no-tension grip that ensures styling is comfortable and damage-free. As we prepare for our HSN debut, we owe immense gratitude to Mindy ?? T., and the entire dedicated team, whose expert guidance has been crucial in refining our presentation and readiness for this big event. This milestone is not just a chance to showcase PuffCuff to a wider audience but also underscores a compelling investment opportunity. With only 8 days remaining in our WeFunder campaign, your investment can help propel us toward greater innovation and market expansion. Join us in transforming the way people manage and appreciate their natural hair. INVEST TODAY: https://lnkd.in/eCx6x2dS Tune in to HSN this May to see PuffCuff in action and consider investing in our vision for a simpler, more stylish future! #PuffCuff #HSNDebut #CurlyHairSolutions #StyleWithoutDamage #EmpowerYourStyle #RetailLeadershipSuccess #NoTension #NonBinding #InvestInPuffCuff #WeFunderCampaign

Ever wondered what the difference between Spill the Beans, UK’s only event for Black/ethnic minority FMCG founders, and other foodie networking events? Our events are targeted at ethnic minority producers Before you soil your Calvins look at the facts →99.9% other events do not even have minorities on their panels….WILD →0.02% Black women get startup funding →7.1% ethnic minorities get funding We know from experience the struggles for food entrepreneurs especially minorities Get your products in front of Ocado Retail, Macknade , Sainsbury's’, Nisa Retail Waitrose & Partners? Secure your spot ? https://lnkd.in/ekcQVfPe ?? USE DISCOUNT CODE:STBMATES ?? Mike Williams Manon GALIZZI, MIFST Claire Roper, Patrick Wright, + many more ?? Crowdcube ?? Jeffrey Oyinlola, Natalie Rogers, Toyin Said ?? ?? Dawn Burton & Natasha Orumbie ??P.S.??PROMO CODE ends 31.12.24 ----------------------------------------------------------------------------- ??I’m Colin- the food scene’s Kanya King, London-based food and drink Content Creator?? ??Helping foodie brands promote themselves via storytelling. ??Founder, Spill the Beans - UK's sole event for Black/ethnic minority food producers to meet supermarket buyers ??Connecting foodie brands with their target audiences via social media ?? Wanna chat? ??Connect with me, and we can talk about your projects??

The lack of funding for Black-owned beauty brands, despite their market potential, exposes a frustrating disconnect. Investors, now risk-averse, prioritize profitability over innovation, leaving these brands—often solving unique beauty concerns—struggling to scale without adequate financial backing. The demand for proven success and retail traction creates a catch-22, where Black founders face higher barriers and fewer resources. While grants help, they’re not enough. Investors need to reconsider their approach and recognize the long-term cultural and financial value these brands offer, rather than just focusing on immediate returns. https://lnkd.in/eTThfM2U

A Strategist’s Call to Action: Supporting Black-Owned Businesses Amidst Retail Challenges This week, I find myself reflecting not on the insights from #WEF, but on the recent decisions made by Target regarding their support of Black-owned businesses. As a business owner and consultant, I understand the complexities of brand decisions and the need to balance various stakeholder interests. However, the recent developments have left me, like many others, deeply concerned. Target has long been a champion of diversity and inclusion, featuring a wide array of Black-owned brands that have achieved significant success on their platform. These brands, such as SheaMoisture, The Doux, The Honey Pot Company and countless others, have not only thrived in Target's retail environment but have also leveraged this success to expand their footprint and reach new heights. The recent challenges faced by these brands highlight the need for strategic thinking and collective action. We cannot allow disappointment and frustration to derail the progress made towards inclusive retail experiences. It is crucial to recognize that these brands may face limitations in scaling their operations independently, and may require support in navigating this transition. As consultants and strategists, we have a responsibility to speak up and provide guidance, ensuring that false narratives do not take hold in our communities. We must remember that supporting Black-owned businesses is not a passing trend, but a commitment to fostering a more equitable and inclusive marketplace. Let us extend grace to these founders, offering our expertise and resources to help them pivot and adapt to the changing landscape. At 924 CoOperative, we are committed to leveraging consumer insights and data to support Black-owned businesses in their strategic evolution. We believe that by working together, we can ensure a future where these brands continue to thrive and inspire. Let us stand in solidarity with Black-owned businesses, offering our support and expertise to ensure their continued success. #BuyBlack #SupportBlackBusinesses #InclusiveRetail

“Funding of Black owned brands dropped 71% in 2023” ?? If you haven’t heard the recent news, let me fill you in. The U.S. Court of Appeals for the 11th Circuit has blocked a Black-owned venture capitalist firm (Fearless Fund) from awarding grants exclusively to Black women entrepreneurs. So you’re aware, less than 1% of VC funding goes to black women founders even though they make up the largest growing group of entrepreneurs. The owner of the Fearless Fund, Ariane Simone, said the ruling sends a message that diversity in corporate America and education should not exist. I couldn’t agree more with her take. I saw the decline of DEI budgets and programs first hand while at Nextplay LIVE where we partnered with some of the biggest tech and media brands in the world on DEI initiatives. “America is supposed to be a nation where one has the freedom to achieve, the freedom to earn, and the freedom to prosper,” Simone said. “Yet, when we have attempted to level the playing field for underrepresented groups, our freedoms were stifled.” Blocking targeted programs under the guise of promoting fairness is a profound misunderstanding of equity versus equality. Equality means providing everyone with the same resources, regardless of context and particular circumstances. Equality is often illustrated by showing a short and taller person behind a fence trying to watch a baseball game. Despite being given the same size block, only the taller person can see. Equity changes the image by giving the shorter person a taller block, so that now both can see. Equity means recognizing the different needs and starting points of individuals and providing the necessary resources to achieve an equal outcome. Sharing this article below for your education and hopefully inspiration to take action.

Striking the Balance Between Emotion and Strategy: A Lesson in Staying True to Your Brand’s Identity To my fellow retail brand owners (consumers, close your ears!) ?? As we navigate the chaos of the Black “Friday” and Cyber “Monday” period, I want to share a lesson I learned from the most important people in our world—our customers. Last year, I entered the holiday season with a mix of anticipation, anxiety, and, deep down, a bit of apathy. Feeling the weight of excess inventory after another tumultuous year, I ran a promotion that, in hindsight, was more emotional than strategic. At our holiday retail events, customers were surprised by the deep discounts, questioning why I would offer such quality products at those price points. We had done this once before, and on both occasions, it generated more gross revenue than any other promotion we had ever run. But several customers told me outright not to do it again. Many said they felt they were “stealing” from us, and a few loyal repeat ones even refused the discount entirely. In an effort to “move on” emotionally and generate short-term cash flow, I temporarily lost sight of who we are: a brand whose mission is to prove that goods entirely made in Africa—of African materials and by African people—can stand up to the same global standards of quality, longevity, and versatility as goods made in Europe or the Americas. This year, I want to remind everyone that while this is a crucial time to make up for the year (or even survive into the next), capture new customers, and shift inventory, we must ensure our promotions still reflect the true value of our products. We cannot afford to devalue the work of our makers behind the scenes or ignore the higher costs and sacrifices involved in running a people-first business for short-term gains. While expanding our customer base means everything to us during these promotional periods, SUSTAINING the network that goes into manufacturing each and every piece is what truly honors our mission. Now, let’s crush the season and finish the year strong! (And, of course, stay on the lookout for some still very generous BFCM offers on both www.sareprose.com and Nordstrom https://lnkd.in/eBYvxmQF !)

For decades, brands and brand leaders have avoided taking action on important issues by dismissing them as “too political”. Very often, the issue was racial equity, or women’s rights. We told them their brands and businesses were already involved. Now, it’s irrefutable. The 2024 Edelman Trust Barometer Special Report: Brands and Politics reveals how political beliefs influence consumer behavior worldwide. From buying to boycotting, the report sheds light on the significant impact of politics on brand trust and loyalty. Key insights include: — 6 in 10 consumers make brand choices based on their political beliefs. — Trust in parent companies is increasingly critical for consumers. — Silence on social issues can be perceived negatively, with nearly half assuming brands are hiding something. You can explore all the findings here: https://edl.mn/4b6d7ar