Nyakio Grieco: A Role Model for BIPOC Entrepreneurs in the US Beauty Industry
| Case Code: LDEN217 Case Length: 11 Pages Period: 2002-2023 Pub Date: 2024 Teaching Note: Available |
Price: Rs.400 Organization : Nyakio Beauty Industry :Cosmetics & Toiletries Countries : United States Themes: SocialWomen Entrepreneurs, Brand Development, Brand Differentiation,Women in Leadership |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Nyakio Beauty – Growing An Inclusive Brand
Nyakio, a first-generation American of Kenyan origin, was born to Kenyan immigrants in Buffalo, New York, and lived throughout the tri-state area before moving to Norman in Oklahoma State at the age of nine. Nyakio had learnt and understood about skin care since her grade school. Her mother regularly used to apply shea butter and grapeseed oil on her feet before going to bed. “I used to watch my mum in the kitchen grind coffee beans and combine them with extracts to make a skin cream. You should also see my mother. She appears to be 25,” Nyakio remarked..
Nyakio’s Second Innings
In December 2020, Thirteen Lune, the inclusive beauty e-commerce platform, was launched by Nyakio and her co-founder and business partner Patrick Herning with thirteen Black-owned brands. Through Thirteen Lune’s first-of-its-kind idea, Nyakio intended to support revolutionize both the venture capital sector and the beauty landscape..
Road Ahead
Despite tremendous spending by the Black community, equity in the beauty industry, like in so many other industries, had remained elusive. A 2022 McKinsey’s Institute for Black Economic Mobility report highlighted that Black beauty consumers still faced major obstacles in finding beauty products which suited their skin tone. The report said that 73% of the study respondents had revealed that when they came to purchase Black beauty products, they usually found them out of stock..
Exhibits
Exhibit I: Poverty Rate by Race and Hispanic Origin: 1959 to 2019
Exhibit II: Americans Perception on Racism against Black People
Exhibit III: US Beauty Industry Market Size, $ Billion
Exhibit IV: Best-selling products at Thirteen Lune (online and at JCPenney)
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