Topicals CEO Olamide Olowe resigns from her position.

At the young age of 23, Olamide Olowe founded Topicals, a global skincare company that has taken the beauty industry by storm. After successfully raising $2.6 million in its first year, Topicals became the youngest Black woman-led company to achieve such a feat. Olowe's vision and dedication have led Topicals to incredible growth and success.

However, Olowe has recently announced her decision to step down as CEO, allowing Sukiana Chancy to take over as chief executive. Chancy comes to Topicals from Fenty Beauty, where she served as general manager for the skin, hair, and fragrance divisions. With an impressive background also including Winnie Harlow's Cay Skin, DevaCurl, and The Estée Lauder Companies, Chancy is well-equipped to lead Topicals into its next phase of growth.

This transition comes at an exciting time for Topicals as the company continues to expand and reach new levels of success. Olowe proudly shared that Topicals has achieved 12 times revenue growth over the past five years, sold over 10 million eye masks, and raised more than $22 million in venture capital. In addition to these impressive numbers, the brand has also maintained double-digit profitability and has donated over $250,000 to mental health initiatives.

As the number one Gen-Z skincare brand at Sephora, Topicals' products targeting hyperpigmentation, acne, and dark spots have captured the attention of consumers worldwide. Currently sold in the U.S., Canada, and the U.K., Topicals also has a presence in Nigeria with its Beauty Hut location. However, Olowe and Chancy have big plans for further expansion, including reaching new markets in Africa, Europe, and the Middle East.

This growth will also be supported by Topicals' partnership with Sephora's international reach. Olowe has expressed her excitement for this next phase of growth and the need for external experts to support the company's continued success. "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," she shared with Business of Fashion.

"Having a founder that people love is part of the game." Chancy also spoke about her new role at Topicals, highlighting the company's cultural positioning as one of the key factors that drew her to the company. "My role is creating more infrastructure to help amplify [the message] and bring it to as many eyeballs and faces as possible," she shared with Business of Fashion. With its continued success and growth, Topicals has also attracted notable investors, including WNBA star Angel Reese and Nigerian Afrobeats singer Rema.

This diverse and talented team is a testament to Topicals' commitment to inclusivity and representation in the beauty industry. In conclusion, Topicals' success and growth are a testament to the hard work and dedication of its founder, Olamide Olowe. With a new CEO and continued expansion plans, Topicals is set to become a global powerhouse in the beauty industry.

We can't wait to see what the future holds for this innovative and inclusive brand.