Why Are So Many Women Founders Leaving Their Beauty Brands? Is the Industry in Trouble?
With the recent departure of Sharon Chuter from UOMA Beauty — there’s a question that needs an answer.
It’s no secret that the world is currently facing a multitude of crises, from economic and financial hardships to major layoffs across various industries. Amidst all of this, the beauty industry is one that seems to be thriving. However, it’s concerning to see a growing number of women founders leaving their brands that were once built from the ground up. This begs the question: Is the beauty industry in trouble?
Most recently, Sharon Chuter, founder of UOMA Beauty announced on Instagram that she would be leaving her role as CEO of the brand and also its board of directors. “I have left the role of CEO and also from the board of directors. I’m excited to be able to focus all my energies on creative endeavors — product development, campaigns and many more exciting projects within and also outside Uoma Beauty.” Chuter, a well-experienced entrepreneur who has been actively involved in various social campaigns, including the Pull Up for Change initiative and the Make It Black movement she spearheaded stepping away from a brand that she has been most passionate about sends major red flags.
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It’s interesting to see more and more women in the public eye making big moves and changes. Emily Weiss, the founder of Glossier, who stepped down as CEO in May 2022, is a notable example — but sparks more significant concern. In today’s world of “Hype Culture,” many independent brands that launched before or during the last two to three years are facing a major decline due to the fading allure of the brand. The founders of these brands are feeling the pressure of realizing that internal and external changes must occur to remain relevant, which can be daunting.
@holisticism Reply to @kayleighbutler78 thoughts on #emilyweiss and #glossier — probably not what you think! #glossiergirl #wellness ♬ original sound – Holisticism
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On the internal side, business shifts can be challenging when you have a board of directors to report to advising that your brand needs to make $500 Million USD or 1 Billion USD in sales. Having to figure out structural changes to management and other day-to-day business functions can be severely intimidating and isolating — not to mention the possibility of having to lay off team members, adding another layer of enormous pressure.
In today’s business world, founders don’t stick around for as long as they used to. It’s rare to see someone like Bobbi Brown, who stayed with her brand for 22 years after Estée Lauder acquired it.
When it comes to navigating the journey of a brand founder and the path of a brand itself, it really boils down to the individuals involved in the process. There are certainly strategies and techniques that can be employed, but ultimately it comes down to each party’s unique perspectives and goals.
Nevertheless, we still want to know where all of the women have gone and why they are leaving?
