Gen Z favorite skincare brand Topicals has appointed a new chief executive officer to lead the company to new heights.
Sukiana Chancy will lead Topicals into a next chapter, the company exclusively told The Business of Fashion. Founder Olamide Olowe will step down from her role as CEO and will remain involved in day-to-day operations.
Prior to her appointment, Chancy worked as general manager of Fenty Beauty’s skin, hair and fragrance divisions.
“I truly never thought I’d ever step down from my dream job at Fenty, but God and the Universe apparently had bigger plans for me!,” Chancy wrote in an Instagram caption, expressing excitement to continue working alongside Olowe to expand the brand.
Olowe told The Business of Fashion that Topicals is now at a point of scale where new external expertise is needed to continue to guide the company’s growth. “I wanted to partner with someone who has worked their way up through marketing, built a global brand, and managed a profit-and-loss sheet much larger than ours,” she said.
The fastest growing skincare brand in Sephora, Topicals was founded in 2020. The brand focuses on targeting skin flare-ups including hyperpigmentation, eczema and acne with products including its popular Faded Serum and under-eye masks. Part of the core of the company’s mission is to cater to deeper skin tones that are often an afterthought in the beauty and skincare industry.
In 2021, Topicals’ revenue increased threefold and in 2022, the company sold a product a minute. A then 26-year-old Olowe, in 2022, became the youngest Black woman to raise more than $2 million in venture funding after securing a $10 million financing round for Topicals.
The brand’s success remains consistent. In an Instagram post announcing the chief executive leadership change, Olowe shared that Topicals has seen a 12 times revenue growth in five years and received $22 million plus in total funding.
“I’m excited to welcome [Sukiana Chancy] to lead our next chapter as our new CEO as we expand globally into the Middle East, Africa and the rest of Europe,” Olowe wrote in her caption. The company looks to expand further globally with a hope to launch in Sephora’s Middle East and Europe locations, The Business of Fashion reported.