(reposted from EBONYONLINE.NET)
Hair is an important aspect of Black female culture, so it’s not surprising that they spend six times more on it than other ethnicities. This means that the Afro-Caribbean hair care market is lucrative, with a mix of mainstream, independent and new entrants jostling to meet the ever increasing demands of consumers for hair and in particular natural hair care products.
That is why GroExpo are organising series of events to that aims to inform and educate potential investors who want to get a slice of this very lucrative pie.
Attendees will be introduced to three start-ups that will be pitching their ideas and business models. The audience, potential investors etc. will then have to opportunity to ask questions and debate the challenges facing the industry during the Q&A session.
According to GroExop, there seems to be a worldwide trend where markets solely or heavily patronised by Blacks are owned by non-Blacks. Close to a £100 million in revenue is generated from the Black hair & beauty industry in the UK yet the market is dominated by Asians. That is money that leaves our community and rarely returns.
Recent research by Think Ethnic also indicated that Black women does not necessarily stay loyal to one brand; rather they prefer to discover a range of brands that meet her hair care needs, and are willing to travel to find these products.
This is where GroExpo, see the potential opportunities for businesses to plug this gap. They also believe that owing to factors like the growth of the natural hair movement and the start-up culture, there has been a rise in budding Black entrepreneurs who have entered the scene with business models intended to disrupt the status quo, create wealth and jobs within Black communities.
There overall ambition is to acts as conduit in bringing both parties together, i.e the disruptors with the business ideas and the investors with the financial muscle.
If you are enterprising black business and you share their noble ambitions that economic independence of the Black community is vital for our emancipation and are looking to strategically multiply your investment, or if you are an entrepreneur with a business idea then this is the event for you.
Black retailers, manufactures and entrepreneurs need to understand that Afro-Caribbean hair and beauty is a profitable market, and if approached with the right strategy and investment can generate huge income streams for those brave and foresighted enough to weather the challenges that the industry poses.
Disrupting the Black Hair & Beauty Industry, 29 Aug, Living Space Hall, Coral St, Lambeth, London SE1 7BE 6.30pm-8pm £Free-£15 Tickets https://www.eventbrite.co.uk/e/disrupting-the-black-hair-beauty-industry-tickets-36099558752