Olamide Olowe has stepped down as the CEO of Topicals.
Olowe has held the role since she co-founded the science-backed skincare brand with Claudia Teng in 2020 to address skin conditions such as acne, hyperpigmentation, and dark spots for all skin tones.
The venture has been a success. More than 10 million eye masks have been sold, with 12x revenue growth in 5 years, Double-digit profitability, and more than $22 million in venture capital raised, Olowe said on X.
WNBA star Angel Reese and Nigerian singer Rema, known for songs such as “Calm Down,” are among the investors in Topicals as of January, as AFROTECH™ previously reported. Topicals is carried in Sephora. In 2022, it made history as the retailer’s fastest-growing skincare brand, with one product being sold per minute, per a press release.
Topicals’ New CEO
Sukiana Chancy has now been appointed as the new CEO of Topicals, according to Business of Fashion. Olowe will still be involved in day-to-day operations.
“I wanted to partner with someone who has worked their way up through marketing, built a global brand, and managed a profit-and-loss sheet much larger than ours,” Olowe told the Business of Fashion.
Chancy was previously the general manager of skin, hair, and fragrance divisions at Fenty Beauty. Her resume also includes roles at Cay Skin, Devacurl, and the Estée Lauder Companies. Per Business of Fashion, Chancy sees Topicals as a “culturally resonant” brand also founded by a Black woman, similar to Fenty Beauty, founded by Rihanna.
“My role is creating more infrastructure to help amplify [the message] and bring it to as many eyeballs and faces as possible,” Chancy told the Business of Fashion.
Topicals’ current footprint includes the U.S., Canada, and the UK. Looking ahead, the brand seeks to expand to the Middle East and Africa and accelerate its presence in Europe.
