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The State of the Caribbean Tech Ecosystem

12 mins read

The Caribbean is breaking away from its dependency on tourism and focusing more on building its tech economy.

TechBeach Retreat is a tech platform built to connect Caribbean startups with leading global technology companies. They also provide founders with access to the resources needed to solve problems and accelerate their growth.

We caught up with Kirk-Anthony Hamilton, Co-Founder of TechBeach Retreat. to find out more about the platform.

Caribbean
Kirk-Anthony Hamilton, Co-Founder of TechBeach Retreat

What inspired you to start TechBeach?

I have started numerous platforms focused on various industries to help drive investment, innovation and transformation in the Caribbean region. Being from Jamaica, I came to a stage where I realized that if I wanted to pursue an innovative idea in the tech space, I didn’t have the immediate ecosystem and resources surrounding me to make this happen.

My Co-Founder, Kyle Maloney had the same thoughts and experience and so we decided to build the ecosystem to allow those who aspire to be successful in tech to access the minds, capital, partnerships and other resources they need to grow a strong business.

So in 2016, we got started by inviting the existing tech ecosystem of the region and anyone from anywhere elsewhere in the world to the idyllic backdrop of the beach in Montego Bay to discuss building and growing tech businesses. That has led us to where we are today.

Caribbean
Kyle Maloney, Co-Founder of TechBeach Retreat

How would you describe the current technology industry in the Caribbean?

The Caribbean tech landscape is still at a nascent stage but our current momentum is promising. We are seeing more of our legacy companies and governments embrace digital transformation and more startups being formed and accessing capital and resources.

What we need is for these groups to collide more intentionally and to build a strong coalition of angel investors who understand how tech businesses grow and how to leverage their influence to support this path.

What’s exciting is that Africa and Latin America are seeing billions in investment. As these ecosystems grow their talent becomes more expensive and we believe the Caribbean can be the next great market for talent, which we hope will result in new enterprises and more global investor interest.

Imagine, studies by the World Economic Forum and the Africa Report show that in 2013, venture capital funding in Africa was at merely $13 million, but by 2021 that number had grown to $4.65 billion. We are hoping the diaspora in the Caribbean can experience the same meteoric shift.

caribbean
The high level team from Google comprising (L-R), Suezette Yasmin Robotham, Diversity, Equity, Annie-Jean Baptiste, Global Head of Product Inclusion;  and Inclusion Manager and Alan Tetley, Director of Engineering

How is your company supporting the growth of the tech ecosystem in the Caribbean?

We work to fill any unfilled gaps in the market. Tech Beach offers a series of summits throughout the region that take a multi-stakeholder approach to ecosystem building in a region that has traditionally operated in silos.

We are known for our success in partnering with and ability to attract decision makers from numerous areas of the ecosystem, whether it be the private sector, including established businesses and SMEs, to our Governments and perhaps most noteworthy, global tech companies such as Google and Amazon who are otherwise not represented in our market. Based on our relationships and reach, we offer Governments and Corporates market insights and support with digital transformation efforts.

In 2021 we launched our accelerator program with funding from the Inter-American Development Bank. We have partnered with the DMZ, a very successful decade-old incubator and accelerator program. DMZ was spun out of Ryerson University and has a portfolio of companies that have raised in excess of US$1 billion.

We have an incredible team led by Eric Sonnier, better known in the US than in the Caribbean. He’s a Harvard Business School and Y Combinator Alum, and a two time founder with experience raising capital and scaling businesses. We offer our companies access to up to US$600,000 in perks from entities like Microsoft, Shopify, AWS and Stripe alongside expert led workshops, access to mentorship and networking opportunities.

In this short space of time the companies in our program have raised in excess of US$50 million. All credit is due to the hard working founders, but we believe this represents a paradigm shift for the Caribbean and we are ready for the next chapter.

To take our vision a step further, we are keen on launching the region’s first tech focused venture capital fund to write first checks to Caribbean entities. Currently, the market is underserved and capital is raised sporadically, often from unlikely sources that don’t necessarily have a strategy around tech investment, so these serve as one off investments. Our fund will back the best in and from the Caribbean.

caribbean
Jack Dorsey, Co-Founder and CEO, Twitter and Square on stage at Tech Beach Retreat with Co-Founders Kirk-Anthony Hamilton and Kyle Maloney

Do you feel that the Caribbean is often overlooked as a location for investment and business opportunities?

This is my life’s work. Our region is definitely overlooked and we fall out of the sphere in conversations of global consequence. My mission is to better profile success stories in the region and leverage global influence to highlight that our market is abound with opportunities. The truth is we often overlook ourselves as well, so my hope is to champion the region as a place to invest, for ourselves, and the rest of the world.

Do you feel that more attention is being paid to high-growth industries outside of tourism?

The pandemic definitely woke up a lot of people in our market to the realization that tourism cannot be our sole focus, but I don’t think we should lose sight of the value the industry creates nor its untapped potential. I believe people are now looking beyond tourism, with the challenge being that new industries take time to blossom and often require wholly new skillsets, so our people have to adjust and adapt.

It’s hard to navigate from a model that has proven itself for well over half a century, but many of us have always known that the model was broken. I’d love to see us develop a more integrated tourism industry that can support other high growth industries and leverage our tourism infrastructure and image to attract new investment and opportunities in other areas.

A promising start brought on by the pandemic is the remote work movement which flooded the region, I think Mia Mottley definitely led this race with the Welcome Stamp in Barbados and while there may still be much to be desired, you can definitely see the economic impact this move had on the island and more importantly the untapped potential. It’s maybe hard to appreciate, but something as simple as the long stay visitor may be the greatest tourism innovation in our market’s history since the dawn of the all-inclusive resort.

Premier of Bermuda, Hon. E. David Burt (middle) with Tech Beach Co-Founders Kirk-Anthony Hamilton (left) and Kyle Maloney (right) at TechBeach Retreat, Bermuda

What are some of the unique advantages that the Caribbean has compared to US or European markets? What are some challenges?

The Caribbean is a nearshore English speaking territory with a much more affordable workforce than you can find in the US and Europe. Our people are well educated through our traditional education system and simply access to environments that allow them.

Most islands offer a lower cost of living despite our heavy reliance on imports for energy and consumer goods. Our friendliness is a commodity that can be leveraged to service the globe, and contrary to common knowledge, we have some of the best and most reliable telecommunications infrastructure in the world, notwithstanding the need for improvements.

We have challenges faced by all emerging markets trying to innovate within our new world order. We don’t have historical benchmarks to reference to support the growth of new industries and we don’t have enough people with experience in these spaces to prop up these new ventures.

Most importantly we don’t have enough risk takers across the necessary stakeholder groups including Government to pursue the unknown. A structured call on the diaspora to incentivize the return of our best placed people could be helpful, note that one in every two foreign born Black people in America is of Caribbean heritage. We think this is huge and we see it when we talk to many of the most successful Black Americans in tech, who often trace their lineage to the Caribbean.

-Tony O. Lawson

Incredible Health, a Black-Owned Nurse Staffing Platform, Raises $80M and Grows to a $1.65B Company

4 mins read

Incredible Health is a Black owned staffing platform that helps nurses find their next permanent role, and employers hire permanent, specialized nurses in 20 days or less.

As a career marketplace for permanent healthcare workers, Incredible Health puts nurses in the driver’s seat. Hospitals apply directly to nurses rather than the other way around. The first and only platform to focus on permanent employees rather than contractors, Incredible Health is already used by over 600 top hospitals nationwide.

Last month, Incredible Health announced it has secured $80 million in Series B funding, bringing the company’s valuation to $1.65 billion.

Now the highest valued tech-enabled career marketplace in healthcare, the company has radically transformed not only how nurses are hired but the experience of nursing itself.

This new funding will support the company’s initiatives to help health systems and their employees manage surging patient care demand.

“Nurses are the backbone of the US healthcare system, and they deserve the well-staffed teams and tools to not only succeed, but also feel fulfilled in their careers,” said Iman Abuzeid M.D., CEO and co-founder of Incredible Health. “Our model has met the moment and changed the paradigm for both nurses and healthcare providers in the most challenging time in U.S. healthcare. We’re excited to accelerate our growth to affect even more change.”

incredible health
Incredible Health cofounders Iman Abuzeid and Rome Portlock.

Base10 Partners led the round as part of their Advancement Initiative, a fund designed to align the success of tech companies with wealth creation for underrepresented minorities.

Incredible Health achieved a milestone year in performance, reporting more than 500% increase in revenue in 2021. More than 10,000 nurses join the marketplace every week and the company has reduced the average time to hire to 14 days from the industry standard of 82 days.

Sixty percent of the top-ranked hospitals in the U.S., including Stanford Health Care, Cedars-Sinai Medical Center, NYU Langone Health, Northwestern Medicine and 600 more hospitals use Incredible Health for their permanent staffing needs.

Its offerings are more urgently needed than ever: the U.S. is on track to be one million nurses short by the end of 2023, and 75% of nursing student graduates cite staffing shortages as their main concern in entering the field.

Incredible Health will deploy its capital directly into rebuilding the shrinking nurse workforce. With the aim to continue expanding Incredible Health to new markets for health systems and nursing talent, the company will use this funding to:

  • Optimize every aspect of the hiring workflow with machine learning technology, including screening and matching, to an increasingly personalized and automated experience for both healthcare workers and employers
  • Support nurses and other healthcare workers over the course of their entire careers, beyond finding permanent jobs, including skill growth, scheduling services, mobility and relocation support, cross-training, and educational scholarships
  • Enhance Incredible Health’s tech-enabled nurse community with personalized advice and content ranking, ensuring that Incredible Health continues to be the largest online community of nurses and other healthcare workers
  • Expand and scale to 90% of the U.S. nurse workforce, and support healthcare worker roles beyond nursing that have critical shortages

Incredible Health has 180 remote employees in 35 states and continues to hire at a rapid pace.

To join Incredible Health’s expanding team, visit the careers page here.

-Tony O. Lawson

10 Black Designers at New York Fashion Week 2022

4 mins read

New York Fashion Week kicked off on Friday, Sept. 9th. The September shows are always eagerly anticipated, and after several virtual and hybrid seasons, the New York calendar is more packed than it has been in a while, with designers eager to showcase their best work and the city aiming to reclaim its position as a leader in the global fashion industry.

Reportedly, Black designers make up more than twenty-five percent of the runway shows at this year’s New York Fashion Week.

Meet some of them below.

Black Designers at NYFW 2022

June79

June79 is the new standard of menswear, reframing and redefining the new standard of luxury, existing between the fine balance of work performance and luxury leisure. June79 is founded on the premise of the new luxury renaissance, from quality and craftsmanship to mentality and style.

black designers

Junny

JUNNY is a former ESPN sales executive who discovered her passion for designing after getting downsized from her position 6 years ago. Her collections are bold, creatively exuberant, and size-inclusive, drawing on the vibrancy of her Harlem and Jamaican cultural roots. Her collections have often been described as “wearable art.”

Ashya

ASHYA’s (pronounced “agh-shya”) vision is rooted in travel, cultural awareness, and unifying style and utility. Ashley Cimone and Moya Annece developed the brand as an “ode to exploration.” They design for simple movement and essentialism, inspired by worldwide Black, Brown, and Indigenous populations and transient modern existence.

Kimberly Goldson

Kimberly Goldson is a Brooklyn-based, sister-crafted, luxury-driven contemporary womenswear brand centered around women’s suiting.

black designers

Black Boy Knits

Black Boy Knits (BBK) is an independent design studio that emphasizes Black, queer and immigrant narratives while highlighting its contributions on a global perspective. As a design studio, BBK centers on creating unique pieces on a made-to-order basis.

Marrisa Wilson

MARRISA WILSON is built around the philosophy that all women should be able to effortlessly express their unique personalities. With a focus on quality and functionality, and a colorful, optimistic aesthetic, the brand is an extension of founder and creative director Marrisa Wilson’s personal belief that high-end fashion can still be attainable and inclusive.

black designers

Studio One Eighty Nine

Studio One Eighty Nine is an artisan-focused brand based in Ghana and the United States. All Studio 189 clothing is produced in Africa in craftsmen communities that specialize in traditional textile techniques, such as hand-printing batik patterns and using plant-based dyes.

Todd Patrick

Todd Patrick is a luxury menswear brand that focuses on how the past shapes the future. The brand has carved out a niche lane for the mid-century modern man of today’s time. Each piece translates fabric to conversation.

Connor McKnight

Connor McKnight is a luxury fashion brand based in Brooklyn, NY established during the pandemic. With this collection, he explored his relationship to this practice of daily work, emphasizing craft and utility with refined timeless silhouettes to be worn for a lifetime. All designs are suggestions of ideas that we see in everyday life adjusted to create an abnormality.

Victor Glemaud

Haitian-American designer Victor Glemaud launched his eponymous designer collection of statement knitwear, designed for all people, genders, races, sizes, and personalities, marrying comfort and style.

-Tony O. Lawson

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4 Reasons Why Mobile Home Parks are Recession-Resistant Investments

4 mins read

Mobile home parks (MHPs) are frequently associated with a variety of unfavorable perceptions and the idea that they are unattractive places to live.

Many people do not realize that some of the richest people in the world have been investing in MHPs for years. One reason is that this asset class can produce exceptional returns even in the worst economic circumstances.

Here are five reasons why mobile home park investments are recession- and inflation-resistant.

1. Mobile home parks are the most affordable housing.

During a recession, it is natural for individuals to seek out the most affordable ways to live. Mobile home parks experience increased demand during economic downturns because they are the most affordable housing option.

According to the U.S. Department of Housing and Urban Development, manufactured homes can cost half as much per square foot to construct as site-built homes. Census data. A manufactured home costs approximately $70,600 on average, compared to $286,000 for a single-family site-built home, excluding land costs.

In many parts of the country, the monthly rent for a manufactured home with land in a land-lease community averages between $844 and $935.

2. Residents own their homes and rarely move.

Affordability attracts residents, but ownership of a mobile home ensures their long-term presence. This resident ownership is the most distinctive characteristic of MHPs and a little-known reason for their stability throughout all market cycles.

Residents pay monthly rent for the lot on which their home sits, but because they own their homes, they are also responsible for all ongoing repairs and maintenance.

As homeowners, residents have ownership pride and a vested interest in staying at the MHP, resulting in their rare relocation. It is not uncommon for residents to reside in the same park for an average of 15 years, and some residents live their entire lives in the same park.

 3. Multiple Income Streams

In multifamily buildings, rent is the only source of income. When you own a mobile home park, there are multiple ways to generate income. You can generate income by renting out space in your park. You can also purchase multiple mobile home units and rent them out. Additionally, you can rent out additional garage spaces and even issue master leases if you so choose.

4. Supply is Restricted and Declining

It is very difficult to construct new mobile home parks in desirable locations. As the majority of MHPs were built in the 1960s and 1970s, most cities’ zoning regulations prohibit the construction of new parks. Additionally, MHPs are frequently targeted by developers who want to convert them into more expensive housing options, such as multifamily apartments.

Estimates indicate that the national supply of Mobile Home Parks is decreasing annually, which, when combined with rising demand, creates an extremely favorable investment structure for the long term.

Tony O. Lawson

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Sea Moss Health Benefits | Black Owned Sea Moss Brand

1 min read

Chondrus crispus, also known as sea moss, is a sea plant that has been utilized in Ireland and Jamaica for decades. A gel form of the plant is commonly added to food and beverages, citing its healing and health-enhancing properties.

It is rich in vitamins and minerals, including A, C, and E, as well as minerals. Sea moss has also been demonstrated to have antioxidant and anti-inflammatory properties, making it beneficial for treating conditions such as arthritis and asthma.

Iodine, carotene, and sulfur-containing compounds can all be found in sea moss. The potassium, calcium, selenium, magnesium, manganese, and iron found in sea moss are among the reasons it is consumed.

If you’re interested in trying sea moss, check out the Black-owned business called The Transformation Factory.

sea moss

The Transformation Factory was founded by Alexiou Gibson. Weighing in at over 500 lbs. at 21 years of age, he was inspired to live a healthier life after his physician told him that he would not live to see thirty.

In an interview with us, Alexiou shared his transformation story and his experience landing a $600K deal on Shark Tank.

sea moss
The Transformation Factory founder Alexiou Gibson accepts offer from Mark Cuban and Kevin Hart on ABC’s Shark Tank to expand health supplement product. (Photo Credit: ABC/Christopher Willard)

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Uplifting Children’s Books Written By Black Authors

2 mins read

In recent years, more Black authors have received prestigious awards and earned spots on bestseller lists. Although there is still much work to be done, I am grateful that more Black authors are getting the exposure that they deserve.

Here is a selection of children’s books by Black authors available on Amazon. And because these recommendations are just the tip of the iceberg, we’ll keep adding to this list.

ABC I Love Me by Miriam Muhammad

ABC I Love Me takes Black children along for a journey of self love, confidence, and adventure while teaching young learners positive affirmations for each letter of the alphabet. This book encourages children to accept their unique qualities and promotes positive self-esteem and a healthy lifestyle.

Dream Big Little One by Vashti Harrison

Black Authors

Featuring 18 trailblazing black women in American history, “Dream Big, Little One” is the irresistible board book adaptation of Little Leaders: Bold Women in Black History. The leaders in this book may be little, but they all did something big and amazing, inspiring generations to come.

Emi’s Curly Coily, Cotton Candy Hair by Tina Olajide

Emi is a creative 7-year-old girl with a BIG imagination. In this story, Emi shares a positive message about her Curly, Coily, Cotton Candy Hair and what she likes most about it. The vibrant illustrations and fun story teach basic natural hair care techniques and tips in a playful and memorable way.

I Believe I Can by Grace Byers

Black Authors

From the #1 New York Times bestselling creators of “I Am Enough” comes an empowering follow-up that celebrates every child’s limitless potential. “I Believe I Can” is an affirmation for boys and girls of every background to love and believe in themselves.

I’m A Little King: Positive Affirmations for Black and Brown Boys by Sharifa Brown

Black Authors

For far too long, little Black and Brown boys have been made to feel inferior and unimportant. “I’m a Little King” is a short, rhythmic, and beautifully illustrated children’s book for ages 2-7 aimed at improving the self-esteem and self-confidence of Black and Brown boys. 

 

Why The Car Wash Industry Is Becoming Increasingly Attractive To Investors

4 mins read

Up until about three years ago, the car wash industry wasn’t particularly appealing to investors. Private equity firms owned approximately 1% of the nation’s 65,000 total car washes and 2% of the nation’s roughly 17,000 conveyor-style car washes as of June 2019, according to data from one of the industry’s specialized brokerages, New York-based Car Wash Advisory LLC.

In the next five years, some industry advisers expect that to change.

“We’re nearing the basket tipping point, but there is still a ton of runway to go,” BlackArch Partners LP managing director John Conklin said. “If I think about car wash operators with some sort of private equity backing in this space five or so years ago, I’d say there were no more than 10. Now I’d say there’s probably 50.”

Car washes were for a long time primarily a cash-heavy, labor-intensive model. Previously, the focus was on full-service car washes, where a driver would wait 45 minutes to have their car washed and detailed.

Advances in technology have transformed once-old school car washes into scalable businesses. New sales and marketing models like monthly memberships create recurring revenue for car washes and allow them to build a brand.

It is not unheard of for a single location to have 5,000 subscribers, and when you do the math, even at a lower cost package of $20 per month, that is $1.2 million in guaranteed revenue annually.

This new model increases revenue consistency and decreases the need for on-site staff. This is exactly the type of business investors salivate over.

They are interested in car wash businesses that own express washes, also known as tunnel washes and conveyor washes. These locations are nearly fully automated, require minimal labor, and utilize conveyor or belt equipment to transport vehicles through the car-washing process.

According to bankers participating in the acquisitions, investors are now paying high sums for regional chains, as much as 18-to-20 times earnings before interest, taxes, depreciation, and amortization. This is a significant increase from previous years.

According to Grand View Research Inc., the express car wash industry has a current market size of over $11 billion and is anticipated to increase at a CAGR of 4.0 percent to 4.8 percent through 2028.

In the United States, where more than 72% of drivers utilize professional car wash services on average 13 times annually, conveyor car washes routinely generate the highest profits in the industry.

Demand is outpacing the supply. Even in the face of inflation and rising gas prices, its believed that the satisfaction customers feel from keeping their cars clean combined with the relative affordability of the service has created a strong opportunity for growth.

However, as a result of rising prices for labor, chemicals, and equipment, the sustainability of the business model for car washes is being put to the test by high inflation.

Some investors are concerned that customers would stop washing their vehicles if the economy experiences a downturn, despite the fact that the car-washing sector likes to promote the fact that it is resilient to economic downturns.

“Car washes went from not being on the private equity radar to being at the forefront for nearly every firm,” says Geoffrey Jervis, co-founder, and CEO of Mint Eco Car Wash. “They all want to be in the industry in some way, which means there are billions of dollars flowing into this space right now.”

Tony O. Lawson

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Black Owned Beauty Supply Store Preparing to Launch Franchise

16 mins read

Cova Beauty is a Black-owned beauty supply store that specializes in cosmetics, organic care products, hair extensions, and accessories.

We previously interviewed the owner Dianna Foster about her experience running the largest beauty supply store in Stockbridge, GA.

We caught up again to see how business is going and to find out about some exciting plans she has in store.

Black-owned beauty supply store
Dianna Foster, owner of Cova Beauty

When we first spoke, you had plans to open a second location. Any updates to share? 

We are looking to expand by franchising Cova within the next two years. I am ensuring our franchisees are equipped for success and that I am available to support them every step of the way.

I know firsthand the challenges that can arise in launching a retail location, and my franchisees will have all the tools needed to prevent them from making some of the mistakes I made initially.

I’m super excited to expand into new communities and enlarge our retail territory! 

What type of growth has your business experienced since its launch in 2016? What do you attribute that growth to? 

We’ve had a gradual increase over the past few years. In 2016 we made just under $200,000 in the first year of business and we’re projected to be in the seven-figure range at the end of this year.

There are many things that have contributed to our growth but I’m happy to share what factors were essential for us.

1. Inventory

Expanding our inventory and being able to offer a more diverse product mix for our customers was huge for us. We opened with less than 10 vendors, and we currently have over 100 plus. When we launched, several large vendors would not allow me to open an account with their company. However, I stayed persistent and built relationships with smaller vendors.

If it was an account I was really interested in, I would follow up consistently to see if there was anything we could do to be approved, and after 6 years we were finally approved for one of the largest vendors in the industry. However, during those 6 years, I did not sit idle, I applied to several smaller companies that carried the same products to ensure my customers’ demands were met and we were able to stay competitive.

To secure those vendors, I was required to go through an extensive credit check, I had to be sure that I wasn’t in an over-saturated market, and I was required to show how I could add value to the vendors by meeting or succeeding fulgent guidelines. We also expanded the fixtures in our store to accommodate 60 new product lines. This new direction allowed us to provide a more immersive experience and increase the time customers were in store by giving them more options which increased our average units per transaction. 

2. Strategic Staffing

We hired the right people. Having the right staff remains a top priority for us. In addition to having positive, like-minded employees, I feel hiring a fashion-forward team is critical in this business. I look for candidates who aren’t afraid to take risks with their hair and makeup.

I like when beauty comes naturally to them, and they enjoy it. This helps keep me up to date on the latest trends because they love social media and are always finding cool things on YouTube, IG, and TikTok. Social media being a part of their culture is a bonus for me as well. I love it! 

3. Accounting

Most importantly, I had to understand the financial health of my business. When we opened, managing a store, and selling products was easy for me but I quickly realized If I wanted to truly elevate, I needed to educate myself on the health of the business.

I work closely with my accountant monthly. During our meetings, we identify areas preventing us from being profitable and formulate a plan to increase our profit margins & average ticket sales, etc. would strongly encourage new business owners to partner with an accountant to create a plan to ensure that their business is profitable and that they are able to take advantage of the programs that are designed to support small business owners. 

Black-owned beauty supply store

When the pandemic first started, did your business experience any challenges? How did you address them? 

Absolutely. When the Pandemic began in 2020, we were forced to close for about nine weeks. It was difficult because during that time, our employees lost their primary source of income. I’m sure you can imagine the devastation as a business owner trying to provide solutions for a staff I care deeply for. My main concern was figuring out how they would support their families financially while we were closed. I also realized I had to ensure they felt safe and comfortable to return once we were cleared to open. 

Additionally, all our vendors in the US closed and our supply chains were interrupted. We had no idea or indication of when they’d reopen. It was a lot, but it was important for me to focus on what I could control. I couldn’t control vendors and shipping, but I could take care of my staff. It was a time of confusion and uncertainty and the last thing I wanted them to worry about was their jobs. 

When we were cleared to reopen, thankfully, all our employees returned and while we were happy, we were in for a new challenge. Due to social distancing, we had to change our entire customer engagement strategy. We pride ourselves on offering concierge-like service and we had to completely pivot. The little things that contribute to the Cova experience had to be nixed and boy was it an adjustment. Not going the extra mile had to become our new normal. How do we continue to go the extra mile for our customers without going the extra mile? We had to do the best we could within our mandated parameters. 

So, our new normal looked like creating a new environment where my staff felt safe enough to work with Covid-19 safety protocols. The personal touches we placed on customer service had to stop. We could no longer walk them bags around the counter and thank them for their business. I felt like we couldn’t provide an experience for our customers anymore. We had to limit and then discontinue the option to try on wigs.

Now that may seem small, but our customers love trying on wigs at our vanity bar. The casual and cool conversations were no more as customers wanted to purchase their products and leave. We were no longer able to do what we do best. Ensuring everyone was healthy was the only priority. 

I had to restructure certain guidelines according to the CDC. Small things became challenges. If an employee called out because of Covid symptoms or being exposed to someone with symptoms, informing my team could cause alarm even though we were adhering to CDC guidelines. Callouts impacted daily operations. Employees having to quarantine for two weeks meant the remaining staff were forced to cover additional shifts. These challenges eventually led to a decrease in employee morale. We were able to

quickly adjust to the challenges with a new way of interacting and the team became engaged in a positive way. I can’t say enough how grateful I am to my team. 

Lastly, our supply chains were interrupted. When we reopened, many of our products were no longer available because some vendors had to unfortunately close or there was a delay in their inventory which caused delays in our inventory. We were certainly in no position to wait for vendors to untangle themselves so as a solution, We began partnering with larger vendors and over ordering. We stored the additional products in our warehouse and used that as our backup. That ensured that our shelves were always stocked. 

Black-owned beauty supply store

Why have you decided to launch an “Every Door Direct Mail” campaign?

Prioritizing fruitful relationships and valuable encounters with our customers was a part of our mission before Cova opened its doors. I realize the importance of connecting with them in thoughtful and meaningful ways. 

After reviewing our data analytics and the genuine relationships we’ve cultivated with them over the last 6 years, I decided it was time to expand with a new approach to our outreach matrix.

An EDDM Campaign is not only efficient, but it gives us the opportunity to introduce Cova organically to those within the community we haven’t had the pleasure of meeting yet. This excites me because we can connect with them on a personal level with targeted marketing.

While Digital Marketing allows businesses to reach consumers in a very short amount of time, EDDM allows me to strategically saturate an entire market and track the results. I’m hopeful this will contribute to my goal of building name recognition and brand awareness in the community while reaching a strengthened, more diverse audience. 

You carry a number of Black-owned brands in your store. How do you select which brands to carry? 

I would like to start by saying yes! We do carry several Black-owned brands in-store. 

Some of my personal favorites are The Doux, Alikay Naturals, and Camille Rose. I am often approached by amazing Black-owned brands and while I wish we could carry them all, there are so many factors to consider and I’m happy to share our product selection process. 

The first and most important is that each product must meet a certain standard. We always must make sure that the product is safe for consumers, properly labeled, in compliance with all laws and regulations, and manufactured in an environment that will not cause them to become adulterated. 

In addition to product safety, I must consider the demographics, my location, the season as well as the buying patterns of our customers. Stockbridge is a family-oriented community and what sells well in the city of Atlanta, differs from in the city of Stockbridge. 

I’ve had the opportunity to work in my store almost daily for the past 6 years which has been a tremendous benefit. It’s taught me what works well in my store because I’m able to listen to my customers, and trust me, they know what they want.

We also visit Beauty Trade Shows to stay ahead of the trends and to be sure we’re stocking the right brands. I also meet with my vendors monthly and request a ranking report to select products based on what works well in my store. A ranking report is helpful because it ranks their top-selling items, and we all know popularity matters. 

When hand selecting products for the shelves, it takes planning where I must consider package sizing, chemicals, price point, and demand. Proper planning is a huge factor in my success. I personally hand-select each item that we carry and that’s over 170,000 ticketed items. 

Have you noticed any change in customer preferences or demand for certain types of products over others? 

Absolutely, I think the social injustice in our community has prompted a renewed sense of awareness. And our customers want an accurate representation of who they are, what their hair texture is, and how this brand can help them be their best selves.

I’ve increased the number of Black-owned brands we carry because of customer demand. We want to support our own and I’m honored to be a link in that generational chain.

 

-Tony O. Lawson

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Black Owned Abroad: Michelle is Empowering Black Fashion Designers in Italy

5 mins read

Michelle Ngonmo is the creator of Afro Fashion Week Milan, an annual event that presents leading and emerging collections by Black designers.

The mission is to showcase the diversity of styles, celebrate their creators, and encourage investment in Black creators. Afro Fashion Week also hosts workshops, exhibitions, and social events, involving photographers, bloggers, and influencers.

In this interview, Michelle tells us more about her business and her life in Italy.

Afro Fashion Week
Michelle Ngonmo, creator of Afro Fashion Week Milan

What inspired you to start Afro Fashion Week?

Growing up in Italy, I never felt the country fully acknowledged its history of exclusion, as well as its colonial history in Africa (i.e., in Ethiopia, Eritrea, and Libya). This might explain its resistance to migration and to imagining itself as pluricultural.

I founded Afro Fashion Week because the general media and fashion industry weren’t reflecting the society I lived in.

In Italy there are more than one million people of colour; you have many Black Italians, and I had seen firsthand the fashion and creative talents that Black designers brought to the table.

However, there weren’t the same opportunities for them when it came to representation, mentorship, or career potential. 

Afro Fashion Week

What is the “Unseen Profiles” project?

When I was in university, I was the student body president of my city. During that time, I formed relationships with a lot of students and former students of colour that  studied specific courses in school, but were doing something completely different as work.

This was because they were unable to land interviews for jobs in their actual field of study. So, they finished school and ended up doing something different because of course one has to pay bills.

It was from this moment that I began to realize that something wasn’t right and that these people, these CV’s(resumes) , were actually invisible to society. It was like they didn’t exist.

I got the idea to call the project ‘Unseen Profiles’ because there are always those that are on the surface, but there is so much more that lies beyond that. So, in collaboration with Vogue Italia, I launched “The Unseen Profiles”, a platform that connects professionals of color in Italy directly with local and international companies across all industries including Fashion, architecture, sports, engineering, maintenance, tourism, and much more.

What do you enjoy most about living in Italy?

There are so many reasons to love Italy: its food, wines, language, architecture, design, history, landscapes, beaches… the list is endless… Italy is HOME even if someone thinks it’s not or that I don’t belong here! 

What are some challenges you’ve faced as a business owner?

Being undervalued because of my skin tone and because I’m a woman is routine! The biggest struggle I had to face during my journey is being underestimated.

Being Black and a woman in a white and mainly male chauvinist society can be a great disadvantage. Usually, people undervalue my level of education and experience.

They often that believe my objective information or analysis is not based on deep research of the sector in which I am specialized. In the course of time, experience has taught me to simply ignore that and focus on my work.

What are your thoughts on diversity in the fashion industry?

Do you mean real diversity or tokenism? (LOL). After the Black Lives Matter protests in 2020, the fashion industry vowed that there would be a change. We are in 2022 and yet, we still have a long way to go.

I know we can’t pretend that things can change in one day, but, I’m noticing that in 2020, the fashion industry was moved and keen to bring some changes to the table, but now it seems like the topic is become less important and than there are other trends to follow.

Most in the fashion industry still need to understand what diversity REALLY means. Fortunately, a few are really open and seeking collaborations, and comprehension to build a solid and better workplace and opportunity for all.

Tony O. Lawson

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Tradeblock, a Black Owned Sneaker Trading Platform Just Raised $9 Million

4 mins read

Tradeblock, a Black owned sneaker trading platform has raised over $8.9 Million dollars in funding from investment partners Courtside VC, Trinity Ventures, and Concrete Rose Capital.

From its humble beginnings in 2020, with just 300 users and just under 5000 shoes, Tradeblock has experienced exponential growth in its 2 years of operation, amassing more than 1 Million shoes listed in users’ virtual closets this year.

The monumental growth of the online marketplace can be attributed to the platform’s unique consumer experience that was key in the vision of making Tradeblock a reality.

Co-Founder and CEO Mbiyimoh Ghogomu, along with Co-Founders Darren Smith and Tony Malveaux, sought out to bridge the gap for passionate collectors who were losing the battle against bots on sneaker drops and those who cannot afford rapidly increasing resale prices; increases that are largely driven by resellers cornering the market on popular shoes for the sole purpose of profits.

Tradeblock will use the proceeds from the financing round to help further invest in growth in its sneaker business as well as expanding and improving its one-of-a-kind authentication and logistics operation, which involves inspecting and authenticating shoes from both sides of the trade simultaneously in a complex and highly-interconnected process.

Additionally, Tradeblock will be investing in more data science capabilities to enhance the customer experience as it continues to define the virtual bartering experience by developing the marketplace further.

The funding raised within this round brings Tradeblock closer to its north star of providing accessibility in the resale market for those who should not let high and unjust prices define the attainability of their dreams and culture and also of ensuring that the marketplace offers the best in class services for its members.

Tradeblock is also driven by a deep passion for building a company that actually resembles the people it serves. “Black and brown communities have always been the backbone of the sneaker industry and sneaker culture,” says Co-Founder and CEO Mbiyimoh Ghogomu. “Showing those folks that they can be the owners and operators of this industry as opposed to just consumers is both a point of pride and a deeply rooted responsibility for everybody at Tradeblock.”

The Tradeblock team embodies this sentiment of representation within their workforce: besides having three Black founders, Tradeblock’s workforce is more than 80% BIPOC, and the senior leadership team is over 75% BIPOC.

Tradeblock | Secure Sneaker Trades

The marketplace is set for a rolling close to end their Seed II round and is expecting an additional $4.5 Million in investment by the end of it. Tradeblock aims to redefine the basis of sneaker culture by focusing on their pillars of community, accessibility and sustainability.

The mission and vision resonate with the public and trumpet the goal of leveling the playing field for the BIPOC community who has played a tremendous role within the culture that is the foundation of the sneaker industry.

“Tradeblock is revolutionizing the way forward for the new emergent asset class of footwear. The founding team’s understanding of the nuances of culture and tech gives them an unfair advantage in the industry and the team’s desire to lead with inclusion, representation, and authenticity also provides them with unique and meaningful organic engagement,” says Tradeblock angel investor Jason Mayden, a former Nike and Jordan footwear designer who now serves as President of Fear of God Athletics.

The marketplace’s continual growth goes to show the long lasting impact it will have within the sneaker industry for years to come.

Tony O. Lawson

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