Diarrha N’Diaye-Mbaye, the founder of the popular beauty brand Ami Colé, announced on Thursday that the company will be shutting down in September. Ami Colé, known for its inclusive makeup products tailored to darker skin tones, launched in 2021 and quickly gained success. The brand’s products were sold through major retailers like Sephora and endorsed by celebrities such as Kelly Rowland and Mindy Kaling.
Despite raising over $3 million in venture capital funding, N’Diaye-Mbaye explained that the current market conditions made it unsustainable for Ami Colé to continue operations. The company faced challenges typical to consumer retail businesses, including fluctuating sales and the struggle to compete with larger companies with more substantial financial resources. N’Diaye-Mbaye hinted at tension between her vision for the company and the expectations of investors.
While Ami Colé had a dedicated customer base, the pressure to achieve rapid nationwide growth created significant strain.
Ultimately unsustainable market conditions
“Instead of focusing on a healthy, sustainable future for the company and meeting the needs of our loyal fan base, I rode a temperamental wave of appraising investors,” she wrote.
Ami Colé is part of a wave of Black startups that gained investor enthusiasm following the murder of George Floyd in 2020, as venture capitalists and corporations looked to support more diverse and inclusive products and initiatives. However, the closure of Ami Colé highlights the challenges facing diverse and inclusive beauty brands in a competitive market. Until September, fans of Ami Colé are stocking up on their favorite products, knowing they may never find a perfect replacement.
The legacy of what N’Diaye-Mbaye and her team built will endure in the memories of loyal users who appreciated the brand’s dedication to quality and inclusivity. Despite the closure, N’Diaye-Mbaye remains optimistic about the future. “I still believe in beauty — at every level — and I’m looking forward to discovering what comes next,” she said.