▼ Summary
– Diarrha N’Diaye-Mbaye announced the closure of her beauty startup Ami Colé, which specialized in makeup for darker skin tones and had raised over $3 million in venture capital.
– Ami Colé launched in 2021, gained celebrity endorsements, and sold through Sephora but will shut down in September due to unsustainable market conditions.
– N’Diaye-Mbaye cited tension with investors over growth expectations and struggles to compete with larger brands despite strong customer loyalty.
– The company was part of a wave of Black-founded startups that gained traction after George Floyd’s murder but faced declining venture funding amid shifting attitudes toward DEI initiatives.
– N’Diaye-Mbaye expressed optimism about her future endeavors, stating she still believes in beauty and is eager for what comes next.
Ami Colé, the celebrated beauty brand catering to deeper skin tones, is shutting down operations just four years after its high-profile launch. Founded by Diarrha N’Diaye-Mbaye, the company gained rapid recognition for filling a critical gap in the cosmetics industry, earning praise from celebrities like Kelly Rowland and Mindy Kaling. Despite securing over $3 million in venture capital from prominent backers including G9 Ventures and Greycroft, the brand couldn’t sustain operations in today’s challenging retail climate.
N’Diaye-Mbaye revealed the difficult decision in a candid essay, explaining that continuing under current market conditions was no longer viable. The brand’s struggles highlight the broader pressures faced by Black-founded startups, particularly those that emerged during the 2020 surge of corporate DEI commitments. While Ami Colé developed a devoted following, scaling quickly under investor expectations proved unsustainable against larger competitors with greater resources.
The founder pointed to a misalignment between her vision and investor demands. “Instead of nurturing a sustainable business, I found myself chasing unpredictable investor appetites,” she wrote, noting how enthusiasm for inclusive brands had waned since the brand’s inception. Production inconsistencies and fluctuating sales further strained operations, a common hurdle for emerging beauty labels.
Ami Colé’s closure arrives as venture funding for Black entrepreneurs hits a multi-year low, reflecting shifting priorities in the investment landscape. N’Diaye-Mbaye remains optimistic about her future in beauty, signaling that this setback won’t mark the end of her contributions to the industry. “This chapter closes, but the work continues,” she affirmed, leaving the door open for her next venture.
(Source: TechCrunch)