What's Happening?
Tracee Ellis Ross, founder of Pattern Beauty, revealed she onboarded business partners to launch her haircare brand due to funding constraints. Despite initial skepticism about her venture, Ross successfully
brought Pattern Beauty to market in 2019, targeting the textured hair community. As a Black actress, she lacked the capital to self-fund the business but maintains majority ownership and creative control. Her strategic decision to secure retail partners before seeking business collaborators has proven successful, allowing her to thrive as a founder and CEO.
Why It's Important?
Ross's experience underscores the challenges faced by minority entrepreneurs in accessing capital, highlighting the importance of strategic partnerships in business development. Her success with Pattern Beauty serves as an inspiring example for aspiring entrepreneurs, particularly in the beauty industry, demonstrating that creative control and majority ownership can be maintained despite financial hurdles. This narrative may encourage more inclusive investment practices and support for minority-owned businesses.
