Is Mented Cosmetics Black Owned? Find Out The Truth
Mented Cosmetics is a beauty company that strives to provide make clean beauty to everyone, with a big focus on providing women of colour with more flattering everyday beauty options. The pair of friends who founded the visitor in 2022 nonetheless ain information technology, and they have expanded steadily over the last few years.
Is Mented Cosmetics Black Endemic?
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Mented Cosmetics was launched in March of 2022 by 2 friends who met in college at Harvard Business School. Since both women are Blackness, Mented Cosmetics is blackness-endemic.
Amanda Johnson and KJ Miller founded the visitor to create the perfect nude lipstick for people of every skin tone. They wanted to make certain that Black and Chocolate-brown people had access to products that flatter their skin tones.
When they kickoff started the business, the ii women were producing the lipsticks straight from their apartment, and they started the visitor with less than $20,000. They aimed to ensure that the lipsticks had plenty pigment to show upwardly on dark skin and be flattering. Since pigment was then vital in the creation of the visitor's outset products, the friends decided to name the company "Mented."
To determine the colors that would make up the original collection, the founders used their ain skin colors as a foundation. From that point, they expanded using the peel tones of many unlike women. They wanted to focus on providing "everyday", and "natural" beauty options for women of colour since products marketed to these women are often bolder and more than colorful.
In addition to providing women of color with great lipstick and afterward other makeup, the company started with a few other goals in heed. The founders wanted to offer a college-terminate option to women of color rather than the drugstore brands that often marketplace to women of color.
The founders also wanted to provide vegan, cruelty-gratuitous, paraben-gratuitous, and not-toxic products. This option is because the company wanted to make sure that customers understood the amount of thought and effort that went into the development of these products.
They as well wanted to make full a void they plant in the beauty manufacture. When the company began, at that place were no brands that provided clean, everyday beauty focused on women of color.
Founders Raise $1 Meg in Capital
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In the Autumn of 2017, the founders of Mented Cosmetics became the 15th and 16th African-American women to always heighten a million dollars in pre-seeding venture capital letter for the company. They used this coin to fund marketing and to abound their business.
This growth involved increasing the size of their team and expanding the products they offered.
This amount was twice as much equally they initially aimed to become. The company was popular plenty that it striking a higher milestone. Some participants in this funding included iSeed Ventures, Built By Girls Ventures, and Outbound Ventures.
Raising this coin is particularly notable because blackness entrepreneurs get less than 1% of venture majuscule funding in the U.S. Black women only receive 0.ii% of venture capital funding. On average, most startups founded by a blackness woman raise about $36,000.
Expansion
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Soon, the nude lipstick led to many other products, including eyeshadow, chroma, blast polish, and many other products. The releases of these products are gradual, but consequent since the company strives to always exist developing new products. They do this while keeping this evolution on classic products rather than developing with trends in mind.
The formulation of these products takes the pinnacle tone and undertone into business relationship. While this may seem similar a depression-level consideration, many dazzler brands do non accept dimensions of tone into business relationship when creating products for women of color.
As the company grows, it does so with consideration of the desires of the customers in listen. The visitor wants to make sure that the needs of its customers are central to Mented'south production and deportment, rather than an reconsideration. Information technology does this by listening to customer feedback and by watching customer responses.
The company used social media and influencer marketing to get the discussion out. Mented sent samples of their products to internet personalities and influencers who spread the word about the company'due south products using their platforms. From that betoken, customers who tried the products expanded Mented's profile using give-and-take of mouth on the internet.
While the visitor initially just sold products through its website, Mented as well launched its products in Target in 2022 and Ulta in 2021.
In 2022 the company raised $iii 1000000 in a seed round with the help of its lead investor, CircleUp Growth Partners. This money helped the company expand distribution and the company's size.
Mented works to ensure that women of color are a part of the visitor at every level. These actions include people who work for the business and the people who are cast in photo shoots. The company besides strives to provide resources to minority-focused charities and build upwards its community.
Recent Developments
In January of 2022, Mented closed a $5 million deal. CircleUp Growth Partners and Corazon Majuscule will work together in this new series of cosmetics.
The visitor plans to utilise this money to build its company and expand domestic and international distribution. Every bit well as establishing a few new positions like a brand marketing executive, a growth executive and a finance executive. All caput positions.
With this financing, the visitor projects that it volition triple its retail business organisation in 2022 with a threescore% increase in DTC sales. The company hopes to aggrandize its presence from 487 Ulta stores to 587 and its presence in Target from 293 to 515 stores.
Is Mented Cosmetics Black Owned? Final Thoughts
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Mented Cosmetics, black-owned and expanding, works to make sure that the products it produces are functional and flattering for all of its customers, with a particular focus on centering women of colour. After starting the business organization from their apartment with less than $xx,000, the company is currently valued in the millions, and Mented is still expanding.
Source: https://www.thatsister.com/is-mented-cosmetics-black-owned/
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