Olamide Olowe, the 26-year-old founder of Topicals has made history and is fastly growing her skincare empire.
Nigerian-American founder of skincare label Topicals, recently announced her company has secured $10 million in funding from CAVU Consumer Partners. Making her the youngest Black entrepreneur to get over $2 million in funding.
The brand was only launched two years ago and has achieved many feats, from being sold in 300+ stores in Sephora to now obtaining this large venture capitalist backing.
In a recent interview with Forbes, Olowe discusses the many reasons behind the brand’s success, one of which is its focus on storytelling.
“Storytelling is the heartbeat of what we do at Topicals,” Olowe tells Forbes in the interview. “It starts with media, it starts with mental health, it starts with all of us believing that we don’t have to subscribe to certain beauty standards. Beyond disrupting the ointment category, Topicals helps people accept and embrace flare-ups and have fun taking care of themselves. As someone who grew up with chronic skin conditions, it’s so rewarding to see people talking about their skin journeys in a positive way.”
The $10 million in funding by CAVU will be used to help grow the brands in addressing such as marketing awareness and the expansion of its hiring/talent acquisition.
“Through Topicals, we believe Olamide has set a new standard in beauty – not only by formulating and marketing effective over-the-counter replacement products for skincare – but also by destigmatizing the way consumers speak about their skin conditions,” said Jenna Jackson, Principal of Growth at CAVU Consumer Partners in a statement.
Aside from the support of CAVU Topicals is also backed by celebrity investors like Gabrielle Union, Kelly Rowland, and Yvonne Orji.