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Topicals: FUTURE50 2023

Published June 8, 2023
Published June 8, 2023
Ah-Niyah Gold

Topicals founder, Olamide Olowe, grew up with a ton of chronic skin conditions and always felt like an outsider in beauty. She learned that one in four Americans lives with a chronic skin condition, and that they are two to six times more likely to experience depression and anxiety because of misinformation and alienation. Topicals is a skincare company transforming the way people feel about skin through effective, science-backed products for chronic skin conditions and mental health advocacy. She created a brand universe that provides holistic treatments.

Brand Founder: Olamide Olowe

Founded: August 7, 2020

Leadership: Olamide Olowe

2023 Full Year Expected Revenue Range: $20MM to $30MM

Categories: Skincare, Body Care

Distribution Channels: Prestige, Amazon

Funding Rounds: Venture Capital

Total Funds Raised: $14.6MM

  • Topicals raised $2.6 million over three rounds of funding prior to launch. The initial investment round, led by Lerer Hippeau, also saw participation from Humble Lukanga and Mucker Capital as well as the CEOs of Warby Parker, Allbirds, Casper, Harry’s, Bombas, and Red Antler.
  • In November 2022, Topicals closed $10 million in Series A funding led by CAVU Consumer Partners.

Notable Investors: Lerer Hippeau, CAVU Consumer Partners, Marcy Venture Partners, Kelly Rowland, Gabrielle Union, Hannah Bronfman

Notable Advisors: Mucker Labs

What are some of your key business initiatives for 2023?

Some of our key business initiatives for 2023 include doubling our revenue, expanding our geographical store footprint, and launching a mental health accelerator.

What are you most proud of having accomplished?

I'm proud that we've donated over $100,000 to mental health organizations.

What has been the biggest surprise since the brand was founded?

The biggest surprise is that people are excited to talk about skin conditions that they once deemed shameful.

What aspect of your brand DNA fuels your competitive advantage?

Our commitment to mental health and taking the focus off of the destiny of clear skin and rather focusing on the journey by making it fun and inclusive.

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

The future of the beauty industry is culturally nuanced storytelling.

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

You don't have to be everything to everyone, but you have to be everything to one.

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

Lean into your personal background and experiences and marry it with data.

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

I would change our access to funding.


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