I first came across this post on one of my favorite blogs madamenoire and it was about three Georgia Tech graduates who owned a company called Techturized. They’d had a hard time trying to convince investors who were predominantly white and male that the hair industry, specifically black hair, was lucrative enough for them to invest in and back their company.
According to Madame Noire:
As an African-American woman, imagine trying to pitch your black hair company to sea of white male investors. It’s almost like explaining quantum physics to a three-year-old — they just won’t get it! And this is the obstacle that Techturized, owned by three Georgia Tech graduates, had to overcome.
Here is my two cents, I agree, they don’t get it! And it’s sad, because if we change the scenario slightly, and we had three white women who launched a product line, they would completely ‘understand’ the value of the product or business as it relates to ‘white’ hair.
Now don’t get me wrong I know it’s just business and people do not tend to put their hard earned money into something they know nothing about, but this is hair we are talking about.
Most of us are born with it; you have to deal with it on a daily basis, regardless of the color of your skin, your culture or your class. Why then is it such a chore to convince an investor that the black hair industry can be just as lucrative as the white hair industry?
Jess Watson one of the owners of techturized stated:
African-Americans have a strong influence in the hair care market,” “They spend about three-times more on beauty and hair care products on average, but this was hard to prove to investors.
This topic is uncomfortable for me because, quite frankly I do not like lines and categories that just lead to segregation and ultimately hate, but you have to wonder how they would not know that black women would care about their hair too?
I would have assumed that it was common knowledge that black women spend more on their hair than other races but since the studies conducted so far are ‘unofficial’ it would seem that those stats cannot be taken at face value.
They don’t need the white men in order to be successful
So, why do we need white investors? Why convince them that we’re worthy?
Amen!!!
they don’t know nothing about black hair anyway.
They shud be trying to convince black entrepreneurs, we shud be investing in ourselves.
Exactly
Hell, half of us don’t sport our own hair anyways…so are they really not supporting our hair????
Hmmm
No need to convince white male investors .. Mayb they should get A loan from a private black owned bank .. keep our money n our community so we can grow & improve them !
The remedy would be to patronize black owned businesses-stop giving our money to those who choose not to buy from us.
Why do they need to invest in our hair? Please explain
That’s why we lost control of our industry in the first place the wrong investors making money off of our hair.
We should find other blacks to invest in our hair. That’s how you build the black community and business. Black using there green dollars in black businesses. We have to build and support each other not go ask the white man. That’s how we end up not owning anything. Look at all white people own more of BET, Ebony, Jet, Essence. We don’t own most of what our black people started.
They do invest, they invest in only weaves things that are not good for us. Stay natural and fight. A true investor will come. Amen!
Invest Color. That’s right Christina. Blackenomics is the real Black Power, Not destruction!
We don’t invest in each other no cohesion. Our down fall. Smh
Jewish ppl do so well
Wtf…this sounds so backwards. ..we don’t need white males to b convinced of anything. ..damn
You shouldn’t want the white man in it
Everything happens for a reason…these white investors said no…so these women could learn to go get it on there own…we don’t need outsiders investing and EXPLOITING US…as soon as the white man gets a hold of it….whatever it is looses its significance. …look at the hip-hop industry…
Exactly. Well said.
They know its a money machine… they dont want us to make money on us lol
BUT WE CAN NOW W/O THEM!….SEE MY LINK…
Do they have a website? I’m game.
Turn back to the community!!
If anything, we should be investing in the black community
The Asians, have that solded out….Black Hair…
That’s crazy! Who cares about them investing. Ain’t you tired of beggin? On to the next, keep it movin! SMH
White men actually do listen to Black women. Ladies, you will be successful in getting them to invest!
Their loss……
Personally, I think whoever doesn’t choose to invest in the black hair market is missing the boat. My question is why does it matter who is investing as long as someone is? I wouldn’t be offended if there were a tanning salon run by African Americans. Not EVERYTHING has to be a divisive issue. And, btw… some white folks do know about black hair… such as those of us who hare or are raising black children and have made it our business to educate ourselves about what is best for those we love. Just my .02
That’s why we need to get together & support our own ! But be careful, because once we get successful then they’ll try to buy us out or take over the company. That’s what they do to each other ,so you know they” do it to us !!
GOD BLESS THE CHILD WHO’S GOT HIS OWN !!!!
They don’t understand about our hair and when you do try explain they out in space …
They don’t care about you wake up you don’t get it wake up
They wouldn’t even dare support something that isn’t going to do them personally any good. Support something that will uplift or give our kings and queens some recognization?? Ain’t gonna neva happen!!!
Those potential investors will be sorry!! Just rub it in their faces later.
I would not be surprised if they came out with something like – African Hair Butter- ‘for the Crowns of our Kings and Queens.’ They are just giving them ideas. Sure. We will take a look at your product. After receiving all ideas- we do not think it is a great idea to for our company to fund your line of products at this time, but I have black: friends, boots, pants, socks, hair and I even had a black eye for two whole weeks.That proves that I am not turning you away because your black!! If it does not have the proud lady on it- it is not black owned and I’m not buying it no matter how ethnic the name of the company sounds.
Well don’t go to them! Find different investors, go on Shark. Honestly why should they invest?
They are the ones earning all the money in the hair industry! They know Blacks are the ones that spend the most in the hair industry. They are not unaware of the lucrative business that is Black Hair…. They don’t want to share their empire! They are always willing to make money off of us but not ensure we make money within our own community. Disturbing
Stop complaining and keep looking for someone who will support you. Stop falling back on the ‘poor little black person’ excuse. It’s embarrassing.