Beauty Bakerie, a makeup brand that received backing from venture capital and was available in numerous retail outlets, has ceased operations.
Beauty Bakerie, under the leadership of CEO Cashmere Nicole, boasted a leadership team that also included COO Nicholas Lara, CFO Roderick Roberts, and former CMO Michael Markham. By 2017, Forbes magazine indicated that Beauty Bakerie was approaching $5 million in sales.
During that year, it secured $3 million in seed funding from a group of investors including Unilever Ventures, 645 Ventures, Richelieu Dennis (co-founder of SheaMoisture and founder of New Voices Fund), and Kenneth Chenault (former CEO of American Express), among others.
In 2019, Beauty Bakerie was anticipated to achieve sales ranging between $12 million to $15 million, as reported by CEW Daily. The article also outlined that the company employed a staff of 30 individuals and had expanded its reach to over 120 countries. By the time of its closure, Beauty Bakerie had established a presence in over 2,000 retail outlets. According to Crunchbase, a financial data platform, Beauty Bakerie had garnered an estimated total funding of $14.7 million.
