Black-owned beauty brand Mielle Organics just secured a major bag by landing a multimillion-dollar investment from the firm Berkshire Partners.
Seven years after co-founders Monique Rodriguez and Melvin Rodriguez launched their natural haircare brand, the CEO and COO have received a Series A investment of more than $100 million from the private equity firm, Ad Week reports.
Praised as the fastest-growing Black-owned haircare company in the US, Mielle has been riding high after recently bringing on Grammy Award-winning rapper Megan Thee Stallion as its global brand ambassador. Most recently, the beauty brand launched its 2021 “Unmasked: I Know My Roots” campaign with entertainers and close friends LeToya Luckett and Toya Johnson.
Mielle plans to allocate its new $100 million investment on “its mission to educate, empower, and excite Mielle’s customers and the broader haircare community,” according to a company statement. Additionally, the CEO and COO will retain a majority stake in the business.
“Their investment reinforces our mission for community development and growth of Mielle’s vision of global expansion,” CEO Monique Rodriguez said in a statement.
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