Pinky Cole, founder of the popular Atlanta-area fast food chain Slutty Vegan, has been making one business deal after the other. Recently, she announced the first Slutty Vegan venue in Brooklyn, New York, now the entrepreneur have inked a deal with another Black-female-owned business The Lip Bar to create a vegan lipstick collection.
The partnership might prove to be successful as consumers are becoming more concerned about the negative effects of petroleum-based cosmetic ingredients. There has been an increased demand for vegan and cruelty-free products. This trend has driving the vegan cosmetics market. The global vegan cosmetics market size is projected to reach $21.5 billion by 2028, from $15.1 billion in 2021.
Cole founded Slutty Vegan in July 2018 and has built the franchise into a company with a $99 million valuation. In May, she raised $25 million in a Series A Funding Round with plans to use the funding to expand.
Vegan cosmetics are made without materials of animal origin or their traces. Instead of using ingredients derived from animals, such as honey, beeswax, lanolin, collagen, elastin, vegan cosmetics use ingredients derived from plants or minerals.
The Lip Bar, founded by Melissa Butler, made made its debut on Shark Tank in 2015 when shark Kevin O’Leary panned its cosmetic product, calling it “clown makeup” and described Butler and her colleague as “colorful cockroaches.” Ebony reported. Despite this, TLB has flourished for over a decade now with annual revenue of more an $5 million, according to Kona Equity with its products sold in Target stores nationwide.
The new lipstick collection under the Slutty Vegan and TLB partnership is called the Nasty Girl collection and is a pair of vegan lipsticks, “Touch Me” and “Tease Me.” The lipsticks are all-vegan and made with jojoba oil and vitamin E. They have a long-lasting matte finish.
The lipsticks, priced $34 each, are available at Slutty Vegan’s brick-and-mortar locations and online at The Lip Bar and Slutty Vegan websites.
“Nasty” is an acronym for “Nurture your needs, Ask for what you want, Selfishness rules, Touch and tease your body and Your pleasure matters,” according to the brands.
“I love partnering with Black woman-owned brands and entrepreneurs and can’t wait to introduce this fierce new collection,” Cole said, according to CBS46.
