Colour Me Profitable
When we think about billion-dollar ideas, we tend to picture social-media mavericks and innovative new forms of tech. We don’t think about lipstick. However, thanks to a plethora of female-led businesses shaking up the US$675 billion beauty industry, skincare and make-up firms have become the darlings of venture capitalism.
“Statistically, the start-up world is really male driven; that’s a fact,” says Pocket Sun, the co-founder of venture capital firm SoGal Ventures. “But slowly investors are starting to realise the very high price they’ve been paying for this bias. We work with female-led companies across all sectors, and there is a lot of money to be made in beauty. I’d suggest anyone deciding whether to invest in a beauty brand consider three things: whether they are offering a product people need and
