Beauty's Growing $142+ Million Club: American shoppers across all races and ethnicities are buying more beauty and wellness products created and sold by Black founders
LOS ANGELES, March 5, 2024 /PRNewswire/ -- Last year, Americans of all races and ethnicities purchased more than $142 million in new beauty and wellness products created by a community of Black entrepreneurs and sold by national retailers, according to the 2024 Economic Advancement Report by BrainTrust Founders Studio.1
- We are celebrating this commercial and cultural leadership by our members, most of whom are Black women!"
- Commercial leadership: $142.6 million in collective sales reported by 209 members of BrainTrust Founders Studio, up 42.5% from last year, when 116 members reported $100+ million in sales.
- Ally leadership: As venture funding to Black founders hit a three-year low, allies emerged to partner with underrepresented funders and founders, including many retailers.
- BrainTrust Founders Studio , the largest membership-based platform for Black founders of beauty and wellness companies, is led by Founder/CEO Kendra Bracken-Ferguson and Co-founder/Chief Investment Officer Lisa Stone .