MayvennCEO: Diishan Imira Lead Investor: Marlon Nichols
Mayvenn allows African American hair stylists to earn incremental income by selling products directly to clients without upfront costs and burdens of inventory. Offline to online retail for hair salons. African American hair care products is a $9bn/year market where the customers spend three times more than any other demographic, yet 95% of African American hair salons do not have a retail component to their business. Hair care products are currently purchased at local beauty supply stores. Mayvenn empowers stylists and salons to retail products without them having to purchase or manage any inventory. Mayvenn creates a direct sales distribution channel based on the existing stylist/ customer relationship, lower prices and better experience. Stylists using Mayvenn are increasing revenue per client by 42%/ Mayvenn was previously incubated 500 Startups and has secured investments from Andreessen Horowitz, Trinity Ventures and Cross Culture Ventures.