After raising over $3M, popular VC-backed beauty brand Ami Colé is shuttering

Diarrha N’Diaye-Mbaye, a trailblazer among Black female entrepreneurs, has announced the closure of her acclaimed beauty brand, Ami Colé. The company, launched in 2021, specialized in cosmetics tailored for individuals with darker skin tones, addressing a significant gap in the beauty market. Despite gaining traction and popularity among celebrities like Kelly Rowland and Mindy Kaling, Ami Colé will officially cease operations in September. In a heartfelt piece for "The Cut," N’Diaye-Mbaye reflected on her difficult decision, stating that after exploring various options, it became evident that the current market conditions were not conducive to sustaining the business. The startup successfully raised over $3 million in venture capital, with notable support from G9 Ventures, Greycroft, and prominent angel investors including Hannah Bronfman and Lindsay Peoples Wagner, editor-in-chief of "The Cut." Ami Colé's journey was emblematic of many Black-led startups that emerged in the wake of George Floyd's murder, as investors and corporations sought to enhance their diversity, equity, and inclusion initiatives. However, N’Diaye-Mbaye hinted at friction between her vision for the brand and the expectations of her investors. Despite a loyal customer base, the pressure to achieve rapid growth led to challenges in competing against larger companies with greater resources. The brand faced a rollercoaster of sales performance, with fluctuations in product demand that complicated its operational stability. N’Diaye-Mbaye expressed frustration over the shifting attitudes of investors who had previously championed inclusivity, now seemingly indifferent to the brand's mission. As venture funding for Black entrepreneurs declines amid a politically charged environment, her story underscores the broader issues facing minority-led businesses. In concluding her announcement, N’Diaye-Mbaye emphasized that while this chapter is closing, her commitment to the beauty industry remains strong. "I still believe in beauty — at every level — and I’m looking forward to discovering what comes next," she stated, leaving the door open for future endeavors.