As detailed by a latest article from world administration consulting agency McKinsey & Firm, “Black shoppers are thrice extra more likely to be dissatisfied than non-Black counterparts in hair and the broader magnificence trade,” and that “addressing racial inequity within the magnificence trade is a $2.6 billion alternative” for manufacturers in search of to higher serve this shopper demographic.
Textured hair care is a quickly rising shopper market, notably within the US, the place “greater than 11 p.c of all magnificence prospects are Black—and but Black manufacturers account for a mere 2.5 p.c of whole magnificence trade revenues,” McKinsey & Firm famous in its report.
To research and supply perception into the textured hair care area, just lately curator and host Tyesha Friday launched the Coils, Money, and Tradition podcast to talk candidly about these points and extra.
As detailed in a latest press launch, the brand new podcast explores “the cultural and financial alternative for creatives and entrepreneurs in Black and textured hair, that includes dynamic conversations with individuals from a spread of professions who’re dedicated to growing constructive visibility and enhancing the care of kinks, coils, and curls.”
The podcast, which just lately launched its first season, options visitors together with James Catalano, Skilled Hairstylist: Breaking into Skilled Styling, Rashida, founding father of Boombastic Braids: Constructing a Braiding Enterprise, and Samantha Kidjo, founding father of ICI Care: Making Hair Product More healthy.
By offering an intimate look into the textured hair care area, “this podcast celebrates the various vary of pros, from hairstylists to product creators, neighborhood cultivators, artists, salon homeowners, and e-commerce pioneers, who’re making their distinctive mark on shoppers,” the discharge shared additional.
To study extra in regards to the Coils, Money, and Tradition podcast, together with some background behind the podcast’s launch, its potential impression on producers and suppliers working within the textured hair care area, and plans for the second season’s launch, CosmeticsDesign interviewed Friday for her insights.
CDU: Are you able to share some background details about the Coils, Money, and Tradition podcast?
Tyesha Friday (TF): Coils, Money, and Tradition is a brand new podcast exploring the intricate interaction of creativity and entrepreneurship throughout the Black and textured hair financial system. Once I was a youngster, I went by a section of loving the hair and images on the entrance of Jet journal on my bed room wall.
Rising up in Cambridge, England there was little inspiration or native illustration of hair and wonder that mirrored me. Then by studying about Lisa Value’s business trip with Carol’s Daughter I turned intrigued on the enterprise facet of hair.
In 2022, I made a listing of all of the hair salons servicing Black and textured hair whereas studying to make net apps. Then in 2023, after establishing a profession in communications and constructing manufacturers at firms at attention-grabbing intersections corresponding to Sq. and TIDAL; I made a decision it was time to create an area solely dedicated to amplifying the tales of individuals shaping the way forward for the Black and textured hair financial system.
I am sadly higher at serving to individuals and types inform tales than truly giving hair styling recommendation.
CDU: What’s the potential impression of the podcast launch on manufacturing and provide firms to the cosmetics and private magnificence care product industries?
TF: Over time I hope to extend consciousness and spark curiosity in a historically underserved market with fruitful demand, regardless of the low buyer satisfaction. Each obtain means extra individuals concentrate, extra individuals make purchases, and extra individuals ask questions. That is how concepts are born, believed, and backed.
In manufacturing and provide, there was a powerful maintain on who dominates the retail expertise and provide of merchandise for shoppers. The expertise will be improved and the provision chain extra decentralized with newer manufacturers, bringing a brand new twist to merchandise shoppers have come to just accept as regular regardless of lifelong dissatisfaction.
The cosmetics and wonder care trade is ripe with new start-ups, corresponding to Bread, Ruka, and Rebundle, all discovering room in what continues to be thought of a distinct segment financial system. Customers listening to the podcast have a spot to find what’s new and perhaps spot an issue they really feel empowered to resolve.
CDU: Do you could have any upcoming episodes or subjects that will probably be of explicit curiosity to cosmetics and private care product producers or suppliers? In that case, what are these subjects or episodes?
TF: At present engaged on season two plus a particular collection devoted to the career of hairstyling. For season two, the theme will probably be about founders and issues to know when getting began whereas season one was a blended bag of subjects.
For season two, producers and suppliers will study extra about how manufacturers are contesting outdated hair myths, and what’s on development for product creations. I’ll even be talking to consultants in subjects of curiosity for founders together with elevating cash and product growth.
CDU: What are your objectives with the podcast by way of overlaying trade associated information, notably with viewers members who’re professionals within the cosmetics and private magnificence care product manufacturing and provide trade?
TF: The purpose is to cowl the journeys of actual individuals doing the work to make individuals love kinks, coils, and curls. For professionals, I need the present to be a supply of inspiration and a platform to provide credit score to these doing the groundwork; that in the future will hopefully really feel overseas as a result of there’s higher equality, funding, and recognition throughout hair sorts.
I additionally just lately began Notes which is a once-a-week written, you guessed it, be aware on what’s occurring within the trade.
CDU: What are your future objectives with the podcast by way of growth or future protection, notably as related to the cosmetics and private care product manufacturing and provide industries?
TF: My future purpose is to broaden the varieties of visitors and have legacy trade leaders come on the present for unfiltered conversations about their efforts to higher perceive and meet the wants of shoppers. It would not have to be the CEO.
As a substitute, I need to converse to the individuals in these firms who’re ‘palms on’. I additionally need to have a look at the affect of different industries corresponding to music and style on the tendencies in Black and textured hair that ultimately all the time go on to be mainstream.
Editors Notice: Hearken to season one in all Coils, Money, and Tradition on podcast platforms together with Apple Podcasts, Spotify, TIDAL, and YouTube.
