Topicals Founder’s New Company Acquires Bread Beauty Supply
Topicals founder and CEO Olamide Olowe and its president Sochi Mbadugha have acquired Bread Beauty Supply through their holding company, Cost of Doing Business (CODB), which they launched in 2024. The financial details of the deal were not disclosed.
According to Business of Fashion, CODB plans to grow Bread Beauty Supply’s retail presence in the US, beginning with an expansion into more Sephora stores.
Topicals and Bread: Two Visionary Black-Owned Brands
Topicals is a Black-owned skincare brand founded by Olowe in 2020. It has gained prominence for its products that target hyperpigmentation and eczema for women of colour. Through Topicals, Olowe became the youngest Black woman ever to raise $10 million in funding.
Bread Beauty Supply was also founded in 2020, by Maeva Heim. The brand is known for its minimalist, stylish, but playful branding and celebration of curly and textured hair. Bread went on to partner with Sephora in the US in the same year, making Heim one of the few Black women to launch a beauty brand into Sephora. In 2023, the brand raised seed funding from The Fearless Fund an early-stage venture capital firm supporting underrepresented founders, specifically women of color.
CODB acquires Bread Beauty Supply
CODB is a multidisciplinary creative service company focused on storytelling and business development. It supports creative entrepreneurs in organizing, funding, and scaling their ideas. British rap music duo Krept + Konan were among the names of CODB Holdings’ investors as well as the family office of Nigerian business magnate Tunde Folawiyo and other business-owners.
As part of the acquisition, Heim will remain Bread’s chief creative officer, while CODB Holdings will lead strategic operations, advised by Olowe and Mbadugha. It currently has products in over 100 Sephora stores but hopes to grow its presence, including expanding to Ulta Beauty in April.
“At a time when DEI commitments are being rolled back, it’s critical that Black-owned businesses not only survive but thrive,” Olowe said in a statement. “With [our] resources, Bread will continue its growth while remaining deeply connected to its vision,” she added.
Image: Gold Owolabi
