Today, according to WWD, L’Oréal’s BOLD venture capital has announced to invest in Ami Colé, the clean makeup brand founded by Diarrha N’Diaye-Mbaye in 2021. This marks the brand is entering a significant growth phase.
While the exact size of the investment remains undisclosed, the funding will support the brand’s expansion of its team and retail presence. Ami Colé, known for its pioneering role in the lip oil craze, has broadened its product range to include complexion and eye products. The brand is also expanding its footprint at Sephora, now available in all U.S. stand-alone locations and Canada, where it exceeded its first-month projections within the first week.
L’Oréal’s decision to invest in Ami Colé was largely driven by the brand’s momentum and potential for long-term growth. Carol Hamilton, group president of acquisitions and business development at L’Oréal USA, emphasized the importance of fostering brands that will shape the future of the beauty industry over the next decade. Hamilton praised N’Diaye-Mbaye’s expertise, particularly her mastery of undertones for mid-range and richer skin tones, which has resonated deeply with customers.
This investment marks a milestone for L’Oréal, as it is the first time the company has made an early-stage investment in a brand founded by a Black entrepreneur with a core Black customer base. Hamilton highlighted the significance of supporting underrepresented founders, especially female and Black entrepreneurs, and positioning L’Oréal as a leader in this space.
Looking ahead, N’Diaye-Mbaye plans to use the investment to enhance brand awareness, build out her team, and invest in marketing strategies. Having already collaborated with beauty influencer Aysha Harun on a successful limited-edition product, Ami Colé is focused on scaling its operations and hitting the $3.5 million sales mark. With a stronger team, more robust inventory, and an expanded marketing budget, Ami Colé is poised to continue its upward trajectory.
