Diarrha N’Diaye-Baye, one of the first among the small black women to raise more than $ 1 million in business funds, announced the closure of Ami Colé’s award-winning beauty on Thursday.
Ami Colé creates makeup for those who have darker skin colors, as consumers often struggle to find makeup that matches their skin tone. It started in 2021, sold through Sephora, and became a favorite among singer Kelly Rowland and actress Mindy Kaling. But the 4 -year -old company will officially close in September.
N’diaye-baye wrote about her decision to close the company In “The Cut”, saying that “after examining each choice, it became clear that continuing in this current market was not viable”. Her company had raised more than $ 3 million in business funds, according to the Pitchbook, with support from G9 Ventures, Greycroft and investors Angel Hannah Bronfman and editor -in -chief Lindsay Wagner.
Ami Colé did not respond immediately to our request for comments.
Like many black newly established businesses that started after the assassination of George Floyd, Ami Colé has led the waves of excitement from investors and companies who want to pour money to support more products and initiatives that touched diversity, equality and integration.
N’Diaye-Baye implies that one of the problems was the tension between investors and expectations of a retail consumer. While it had loyal customers, its rapid national development meant pressure from investors. But her brand struggled to compete with larger companies with deeper pockets, despite throwing a large part of her budget in marketing. Ami Colé has faced the ups and downs of production in retail sales: a week that sells directly and another does not move one unit.
“Instead of focusing on the healthy, sustainable future of the company and responding to the needs of our faithful basis, I drove a idiosyncratic wave evaluating investors – some of which seemed to have an attitude towards equality, and” they were very much giving up, ”
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The executive comes as a funding of business activities Black founders have hit a long day In a political climate that rejected everything he perceives as dei. N’Diaye-Baye ended her announcement by saying that although this chapter in her life was over, her work was not done.
“I still believe in beauty – at every level – and I look forward to finding out what will happen,” he said.
