Johnson & Johnson and others invest in Black-owned hair care company

Infinite Looks Inc., on Thursday, announced a seed financing from companies including Johnson & Johnson Innovation – JJDC, Inc. and Ignite Venture Studio.

The funds gotten from the investments will be directed towards boosting the D2C consumer brand Sunday II Sunday, a haircare product line of Infinite Looks. The company will also expand the product line offering.

Infinite Looks Inc., was founded by entrepreneur Keenan Beasley which came as a result of a desire to have products that directly address hair care habits of Black women. According to the company, 40% of Black women do not work out because of their hair.

Sunday II Sunday solves one of the biggest fears of Black women who work out and are concerned about their hair. The product helps keep both relaxed and textured hairstyles clean without having to dry out the hair or scalp during the week.

“There’s a fear that when Black women sweat, the style starts to become frizzy and look a little more wild,” said Beasley. “Our goal is to help women live their lives without compromises. If she wants to get in the pool, work out, we want to show her what she can do with her hair and what she can with that activity,”

“When you sweat excessively from working out, the sebum is diluted,” said Jennifer Davis Alexander head of Sunday II Sunday research and development division. She added that the key to the success the company relies on is focusing on the average black woman’s scalp and its depletion of sebum, a natural oil produced by the body to keep the skin moisturized.

This new haircare product for black women was launched on May 31 and managed to secure investments from its two new partners. The two companies declined to mention how much they will be investing in the haircare company. However, both J&J and Beasley confirmed that the investments are in the “seven-figure” range.

The high demand for haircare products in the black community provides a good business opportunity for those in the business. In 2018, Black American haircare products consumers spent $473 million. Beasley said the numbers could eventually hit an estimated $2.5 billion eventually.

“The sheer buying power of the textured-hair women is substantial because her hair-demand needs are far greater,” Beasley said. “This market is not very well defined, which is indicative of the fact that a lot of larger corporations haven’t gotten behind it.”

Elizabeth Wu, the Johnson & Johnson (JNJ) Consumer External Innovation & Transactions Manager said the company’s investment in Sunday II Sunday and Infinite Looks will help meet “an unmet need in the multicultural hair care space.”

“Our goal is to accelerate solutions that have the potential to make a transformational impact on the health and wellbeing of people around the world,” said Wu to CNN Business. “Our investment in Infinite Looks aligns with our overall strategy to fuel innovative healthcare products and solutions around the world.”

The recent activities of the Black Lives Matter movement following the unlawful death of George Floyd bolstered Beasley’s business. He said he presented the idea for Sunday II Sunday to investors in the previous year.

Concerning consumer feedbacks about Sunday II Sunday, Beasley said it had been “fantastic”.