These 8 Black Founders Are Shaking Up Beauty's Bottom Line
In a $70‑plus billion industry that still sidelines Black shoppers and founders, our buying power matters. Black shoppers in the U.S. account for roughly 11% of total beauty spending, yet Black brands capture only about 2% of industry revenue, according to a McKinsey report.
That gap translates into billions of dollars in lost opportunity—and fewer products designed with our skin needs and hair textures in mind. It also means Black founders often shoulder extra labor: building great products while educating retailers and investors who still treat Black customers like a side quest.
Iconic makeup artist and entrepreneur Pat McGrath’s story shows both the promise and pressures of breaking through that ceiling. Once valued at more than $1 billion, her Pat McGrath Labs brand filed for Chapter 11 bankruptcy this January, weighed down by millions in debt, even as her artistry defined runway and red-carpet makeup and her brand broke records.
A week later, the company turned a corner: after securing nearly $30 million in new financing, with McGrath shifting from CEO to chief creative officer (but she currently remains), a major equity owner.
Brand Ami Colé, founded by Diarrha N’Diaye-Mbaye, built a cult following by centering “clean” formulas for melanin-rich skin at an accessible price. At its height, the brand filled a major market gap, yet it still couldn’t survive the challenges that plague so many entrepreneurs.
“I invested heavily in marketing and prayed,” she said to The Cut. “But I couldn’t compete with the deep pockets of corporate brands; at retail stores, prime shelf space comes at a price, and we couldn’t afford it. As we tried to grow, our sales wavered.” Sadly, the brand shuttered in 2025.
In a climate where DEI rollbacks from mainstream companies have forced support for Black businesses to the margins, there’s no better time to rethink how we shop. For this Black History Month, we’re spotlighting the top Black-owned founders shaping the business.
Beyoncé, Cécred
Category: Haircare
Beyoncé Giselle Knowles-Carter launched Cécred in February 2024 as a self-funded haircare venture rooted in her mother, Ms. Tina’s salon’s legacy. The luxury brand quickly scaled to over $200 million in first-year revenue through smash hits like the Restoring Hair & Edge Drops—selling every 16 seconds at Ulta, the brand’s biggest prestige hair launch ever. Business-wise, its edge is biotech-driven formulas targeting textured hair repair, blending proteins and oils for real results that drive repeat buys and awards like Beauty Inc's Brand of the Year. cecred.com
Chichi Eburu, Juvia’s Place
Category: Cosmetics
Chichi Eburu bootstrapped Juvia’s Place in 2016 from her NYC apartment, turning it into a multimillion-dollar indie makeup hit by owning the underserved deep-skin-tone market. Fans can’t get enough of its eye-catching, pigmented palettes in bold shades meant for us. Buttery blendability and retail partnerships proved niche can mean massive loyalty and sales without big VC. juviasplace.com
Danessa Myricks, Danessa Myricks Beauty
Category: Cosmetics
Danessa Myricks ditched corporate life to launch her beauty line in 2015, building a cult brand that professional makeup artists discovered through word-of-mouth praise. The brand also achieved viral accolades on TikTok with $10M+ in annual sales. The Yummy Skin line innovates through Upsalite tech in balm-to-powder hybrids that blur and glow across tones, landing shelf space at Sephora through community buzz over traditional marketing. danessamyricksbeauty.com
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Janell Stephens, Camille Rose
Category: Haircare
Owner, founder, and creative director, Janell Stephens, launched Camille Rose in 2010 in her own kitchen and grew it into a self-funded, multi-million dollar empire. Now the clean haircare brand is distributed at major retailers around the U.S. What fuels its growth? Plant-powered staples like Curl Love Milk, which revives coils without toxins, tapping Black hair loyalty with scalable, scalp-friendly formulas that cut through crowded aisles. camillerose.com
Maya Smith and Brian Smith, The Doux
Category: Haircare
Salon owners, Maya and Brian Smith, rolled out The Doux in 2014 and scaled it to major retail like Ulta by solving hair woes specific to our texture. Before the brand, the couple’s bond was a real-life “Brown Sugar” -esque love story: they’re high school sweethearts who fell in love over ‘90s hip hop. Now the parents of five boys, the couple’s “veteran-owned, family-operated, no corporate strings” ethos is a hard-won badge of honor. thedoux.com
Olamide Olowe, Topicals
Category: Skincare
Olamide Olowe bootstrapped Topicals in 2020 to $25M+ in sales by targeting eczema and hyperpigmentation-prone melanted skin. The brand landed in Sephora with their Faded Brightening + Clearing Serum's tranexamic acid blend, a TikTok favorite. Its business play: clinical efficacy that cuts "problem skin" stigma, in standout packaging that Gen Z can’t get enough of. topicals.co
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Rihanna, Fenty Beauty
Category: Cosmetics
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. Pro Filt’r's sweat-proof, niacinamide-infused longwear grabbed LVMH backing and global retail, proving diverse assortments unlock loyalty and billions in a shade-sparse market. fentybeauty.com
Tracee Ellis Ross, Pattern
Category: Haircare
Tracee Ellis Ross launched Pattern in 2019, fast-tracking it to a $100M+ valuation through Ulta exclusives and direct-to-consumer hustle tailored for our myriad hair “patterns.” Its flake-free Curl Gel is a bestselling ertnon-drying gel packed with aloe vera, nourishing oils for grip without crunch. Standout tools have also filled a massive gap left by mainstream retailers. Smart category expansion and curl advocacy have locked in retail dominance and steady revenue growth. patternbeauty.com
