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CurlMix: FUTURE50 2024

Published June 20, 2024
Published June 20, 2024
CurlMix

Launched: 2017

Founder: Kimberly Lewis

Key Executives:

  • Kimberly Lewis, CEO
  • Timothy Lewis, COO
  • Nicole Davis, Advertising Manager

2024 Full Year Expected Revenue Range: $10M-$20M estimated by industry experts. 

Offline points of distribution globally projected for 2024? 468

Primary Category: Haircare

Other Categories: None

Key Markets: 

  • Illinois
  • Georgia
  • DMV area

Retail Partnerships: Ulta Beauty

Primary Distribution Channel: DTC 

Other Distribution Channels:  

  • Mass
  • Amazon

Funding Rounds:

  • Venture Capital
  • Equity Crowdfunding

Total Funds Raised: $10 million

  • In June 2023, the BrainTrust Fund made a $1 million investment in Listener Brands, the parent company of CurlMix and 4C Only.
  • In December 2021, the business raised $4.5 million from 6,948 investors in a Wefunder crowdfunding campaign.
  • The founders pitched the business on Shark Tank, where they turned down Robert Herjevec’s offer to invest $400,000 for 20% of the company. After rejecting the offer the couple raised $1.2 million for a 10% stake in the business from Jeff Weiner, former CEO of LinkedIn, and Arlan Hamilton from Backstage Capital.

Insight shared by Kimberly Lewis, CEO

Our brand's inspiration is deeply rooted in recognizing a significant gap in the beauty industry: the need for natural, effective, and inclusive haircare solutions. Drawing from my personal experience and a passion for holistic wellness, we embarked on a journey to create a brand that prioritizes the health and vitality of all curly hair types while celebrating individuality and diversity. We observed a growing necessity and demand for chemical-free products. We developed a range of products catering to diverse needs and preferences, empowering individuals to embrace their natural beauty with confidence and authenticity.

What are your key business initiatives for 2024?

In 2024, our key business initiatives revolve around strengthening our customer connections and ensuring the long-term sustainability of our company. We prioritize initiatives that deepen our understanding of our customers' needs and preferences; we aim to enhance the customer experience, personalize interactions, and build stronger relationships with our loyal customer base. Additionally, we are investing in technology and innovation to streamline our operations and improve efficiency, ultimately reducing costs and increasing profitability. By aligning our initiatives with our customers' interests and our company's sustainability, we are confident in our ability to thrive in the competitive market landscape of 2024 and beyond. Through these initiatives, we seek to meet our customers' needs today and sustain our company's success for generations to come.

What are you most proud of having accomplished? 

Since our business launched, what we are most proud of accomplishing is the cultivation of a loyal customer base that has invested in our brand and contributed to our growth. Building strong relationships with our customers has been a cornerstone of our success, and we take great pride in the trust and loyalty they have placed in us. By delivering exceptional products and services, providing personalized experiences, and fostering open communication, we have created a community of passionate advocates who are loyal customers and enthusiastic ambassadors for our brand. Their support and investment in our business have been instrumental in driving our growth and achieving our goals, and we are deeply grateful for their continued partnership and dedication.

What has been the biggest surprise?

The biggest surprise since the founding of our brand has been the stark reality of the challenges faced by people of color, especially women, in raising capital. Despite our innovative ideas, proven track record, and strong market potential, we have encountered significant barriers when seeking investment opportunities. The need for more diversity and inclusion in the venture capital landscape has been glaring, with many investors overlooking or undervaluing the potential of minority-owned businesses. This disparity in access to capital has been disheartening and eye-opening, highlighting the systemic inequalities in the entrepreneurial ecosystem. However, this realization has only fueled our determination to defy the odds, break down barriers, and succeed on our terms. We are committed to paving the way for greater diversity and representation in the business world and advocating for change that ensures equal opportunities for all entrepreneurs, regardless of race or gender.

What fuels your competitive advantage?

Our competitive advantage stems from the essence of our brand DNA, which centers on the authenticity and effectiveness of our products. We meticulously curate each formula, blending the finest naturally derived ingredients with scientific precision to nurture and beautify all curly hair grades. Our commitment to transparency and integrity fosters a community where individuals feel empowered to embrace their natural beauty confidently. By upholding these principles and continually innovating in natural haircare, we differentiate ourselves in the market and earn the trust and loyalty of our customers.

"If I could change one thing in the beauty industry, it would be to foster greater diversity and inclusivity at every level, from product development to marketing and representation."
By Kimberly Lewis, CEO, CurlMix

Please share your insight on the future of the beauty industry.

As we look ahead to the future of the beauty industry, growth and development will be driven by several key trends and shifts in consumer preferences. The demand for more clean, natural, and sustainable beauty products is rising, reshaping product formulations and manufacturing processes. Additionally, inclusivity and diversity are becoming increasingly important, with consumers seeking products that cater to a wide range of skin tones, hair textures, and cultural backgrounds. Technology and innovation will continue to play a crucial role in transforming how consumers discover and experience beauty products. Overall, brands that embrace these trends, prioritize sustainability, and leverage technology to create personalized and inclusive experiences will thrive in an ever-evolving beauty landscape.

What is the best piece of advice you’ve been given?

You have to be a painkiller and not a vitamin. I learned this lesson early on when I had to pivot my brand from being a DIY box to being a full product line. We started our business in a way that was fun, cool, and interesting, but it wasn't solving a real customer pain point. So we had to go back and look at what our customers really needed. What pains and problems they really had and then craft a solution for them. 

What’s the best mistake you’ve ever made?

The best mistake I ever made was trying to do everything myself. Early on in the life of the brand, I learned how to do everything! I was able to grow my skills extremely quickly. I was able to speak to the customer. I was able to market, make products, ship orders, and more. If I had to go back, I definitely wouldn't do all that myself because I could have moved faster with help, but I don't regret how much I learned. 

Paying it forward, what advice would you give someone contemplating launching a beauty brand?

If you're launching a new brand, the best thing you can do is ensure you are solving a real pain point for your customers. What will set you apart as a brand is how you communicate with your community and how you serve your community. If you can understand their pain and communicate it in a way that resonates with them, then you can offer a solution in the form of your products that becomes your reason for existing and makes a difference in the market. 

If you could change one thing in the beauty industry what would it be?

If I could change one thing in the beauty industry, it would be to foster greater diversity and inclusivity at every level, from product development to marketing and representation. Despite progress, there is still a long way to go in ensuring that all individuals, regardless of race, gender, or background, feel represented and valued in the beauty industry. By actively promoting diversity and inclusivity, we can create a more equitable and empowering beauty landscape that celebrates the unique beauty of every individual and fosters a sense of belonging for all.

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