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Black Girl Sunscreen — launched in 2016 — creates products with a focus on melanated skin (no white cast!) and thanks to a female investor, is now valued at $5M.
According to esthetician Nayamka Roberts-Smith — Black Girl Sunscreen is a trusted go-to. Founded by Shontay Lundy, Black Girl Sunscreen offers one primary product — its ultra-sheer, vegan SPF 30 sunscreen infused with natural ingredients including avocado, jojoba, aloe, cocoa butter, and carrot juice. With its indie success, the brand recently secured a $1 million investment from a private female funding source, reports Forbes.
The new infusion of capital increased the beauty company valuation to $5 million.
“We created a groundbreaking product for an underserved market that resonated with our community,” she said. “Black Girl Sunscreen brought awareness and shifted a mindset around people of color wearing sunscreen.”
Though the health crisis has forced several minority-owned brands out of business, Lundy and her five-person staff were determined to “be very nimble to survive this.” Additionally, her advice to fellow owners is to search for resources.
“My advice for other minority businesses looking for funding is to take advantage of grants and available resources, participate in pitch competitions to learn how to sell your business and gain exposure, have buttoned-up financials; and put yourself in environments to meet investors/high-net-worth individuals,” Lundy said.
Culled from Afrotech