August 4th 2023.
Nicole Gibbons is painting her own vision of success. She is the CEO of Clare, a paint company that she created in 2018 after garnering attention from large DTC investors. Her goal is to make the company a billion-dollar brand that will last for 150 years.
During the COVID-19 pandemic, Gibbons saw a rise in consumer demand for her products because many people were stuck at home and wanted to do interior projects. She noted that the company's sales grew by 550%.
Gibbons was able to secure a $2 million seed round from investors such as Warby Parker backer First Round Capital and Bullish, an investor in Peloton and Harry's razors. With the money, she was able to hire around eight full-time employees.
Clare's website offers customers the ability to find the best supplies and test peel-and-stick samples for their walls. They also have collections of paint brushes, primers, and other tools.
Gibbons is focused on creating wealth for her community, so she sought out Black investors. She was able to meet Robbie Robinson from the Pendulum Holdings investment firm, which led her $8 million series A in 2022. Gibbons' experience has opened her up to a room full of Black and Brown investors.
The current focus for Clare is growing in a sustainable way, so Gibbons is looking for distribution partnership deals to get her paint onto store shelves and explore new accessory categories. Unfortunately, prices for Clare supplies have gone up due to inflation. However, Gibbons is still reaping the benefits of the increased brand awareness that she got during the pandemic.
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