FaB meeting with multicultural founders in Paris. The TakeAway.

8 min readDec 18, 2023

A Conversation with Odile Roujol & Haweya Mohamed — Dec 11, 2023.

Haweya:

“Hello everyone, I am delighted to introduce Odile Roujol, a key figure in the luxury and beauty industry, and currently an investor in sustainable Fashion and conscious Beauty, and new commerce in the United States. Odile, thank you for being here with us!

Who is Odile Roujol: Odile, you started at Chanel, then Yves Saint Laurent, before becoming CEO of Lancôme International working with L’Oréal group. After that, and a few years in Tech (Orange coming back and forth to the Silicon Valley), you moved to San Francisco and you shifted from operator to investor, choosing to back early stage start-ups, and today, you are the founding partner of Fab Co-creation Studio Ventures, a fund dedicated to Fashion and Beauty Tech (FaB!).

Before that, you launched the FaB Fashion and BeautyTech community, founded in San Francisco, which is today a global network bringing together more than 15,000 founders and investors in 19 chapters in the different continents.

Can you tell us how this initiative started and evolved over time?

Odile:

Mentoring is great, but just a conversation is not enough to have an impact and truly help the entrepreneurs , I believe in the “pay if forward culture”, supporting each other, and of course learning from each other.

We founded the community end 2017, the fist event was hosted at my home (not a garage, but we had 90 people instead of 30, and it was a little crowded and messy!) then in 2018, all tech platforms were partners to host us in their venue, excited to see so many female founders and multicultural leaders. Then we opened chapters in Europe, Asia, and led the first Fab Africa meeting in Paris 4 years ago with you! (Guest speaker Noelly Michoux 456 skincare, Antonia Opiah Unruly).

It’s the 5 year anniversary of the community: 15,000 founders and VCs. 3900 newsletter subscribers. Latest meetings were in NYC and LA about the longevity and circular fashion, and with iconic guest speakers and entrepreneurs of the year such as Suveen Sahib K18 hair and Nyakio Grieco, fast growing companies; next meeting in Paris on the 13th.

Haweya:

Based on this experience, you created Fab Co-Creation Studio Venture. What is the primary objective/investment thesis of this fund, and how does it differentiate itself from other market players?

We invest in consumer tech in seed stage, conscious beauty and sustainable beauty, new commerce. We are grateful for having luxury, beauty and retailer corporations trusting us. We invest tickets on average of $500k, up to $1M, mainly in the US.

We love tech and data, believe in companies leveraging the knowledge of their customers to better serve them. I have superpowers in brand and retail strategies, and know how people develop excellent products. We also have a deep understanding of different footprints, I have been traveling a lot ,with L’Oreal, Middle East, Asia, Latam…

We have already backed 25 startups. 90% female founded, diverse profiles, multicultural, first and second generation of immigrants.

Haweya:

Adding my perspective with figures: in 2050, more than 50% of the population in the US will be “metissé (in French), mixed races.

What will be the Trends 2024? How do you perceive this business opportunity, and how has this dynamic influenced your choices, particularly for Thirteen Lune, Brown Girl Jane, and Shaz and Kiks in your portfolio?

Odile.

The hot topics will be:

First, longevity, what you eat, supplements , your activity, , your sleep, how you measure that you improve your biological aging (vs the chronological one). Only 20% of our health depend on genes, 80% is our behaviors in daily life and environment.

I believe science based will be more and more important vs just a cool Instagram Tiktok brands.

New shopping behaviors: livestreaming is huge in China as you all know, video shopping, social commerce. Customized experiences,with GenAI! New commerce using video, and influencers, content, one to one, one to many, education!

An holistic approach of beauty: ancient Wisdoms body and soul, TCM and Ayurvedic , African roots may inspire people! Not only the ingredients, but how to feel well in a stressful environment.

By category:

-Hair care /scalp care and supplements, Skin care and supplements, Make-up is still struggling (make up artist or difficult to have an exit, and product margin is lower).

-Mood Fragrances.

Coming back to your second part of the question, the business opportunity for the entrepreneurs in the room today:

Reminder: 90% of Americans do not have a passport, have not come to Europe and even less to Africa, just Mexico Canada.

If a European or African brand, I would definitely target the big cities in the U from the East Coast to the West Coast: NYC, Boston. Miami, LA, San Francisco, Seattle… with potential customers who are curious, open to the world.

I believe diverse profiles powers innovation for the best. We are inclusive from day one.

The new global champions will be Black founders, Latina founders, Asian (including Indian) ones, embracing diversity. Multicultural founders have the ability to grow internationally.

50% of the brand and retailers in Fab portfolio that you mention have customers that are not the same ethnicity.

(definition of words used in the US, melting pot as a reminder: BIPOC black indigenous and people of colors, indie brands, underrepresented communities, API Asian Pacific Islander, 1st 2nd generation of immigrants…words that we don’t use here in France)

Thirteen Lune has been co-founded by Nyakio Grieco, Patrick Herning, serial entrepreneurs. Nyakio has already sold a brand to a corporation, addressing the needs of dark skins. They are iconic in Los Angeles. Nyakio is married to an Italian husband and comes with her family often to Europe.

BrownGirlJane, Malaika Jones and Tai Beauchamp, they bootstrapped, they are beauty influencers, and fashion ones. They live in LA and Washington DC.

Shaz and Kiks, 2 sisters, they are building an Ayurvedic beauty brand, beginning by scalp care for beautiful hair , they live in Austin. Same only BAs and us as a VC, an engaged young community.

Haweya: Please share with us more information about these brands, what was appealing, and what could inspire our audience, entrepreneurs based in Europe.

Odile:

They are Omnichannel. They are powered by their community.

Thirteen lune is first an on line market place, then they secured a partnership with the retailer JCjPenney, now they have also a fabulous flagship in trendy Larchmont district in LA.

Shaz and kiks and BrownGirlJane are now or soon in Sephora

BrownGirlJane has beauty Influencers recommending their wonderful scents, they put it forward at the Black Beauty Summit.

Celebrities and Nyakio, it ’s a love story: John Legend, Gwyneth Paltrow or Nicole Richie…

The Millennials social media community for Shaz and Kiks is on Insta and Tiktok, they regularly highlight their customers.

Haweya:

Structure of the beauty market in the United States for retail.

Can you share with us your point of view on the current structure of the beauty market in the United States.

Odile

There is around 10% of revenues of big brands sold on line. Of course, D2C (direct to consumer brands) it can be more than 50% of revenues as most brands choose one key retailer, after testing some niche ones.

Niche partnerships (Goop, Violet gray, Detox market, Credo, or Urban outfitters etc.)

Amazon is growing fast in beauty and becomes a main channel in the period.

Large retailers: mass, Walmart and drugstores for affordable products, Target also for access price, Sephora premium ones, Ulta tries to be with some affordable SKUs and brands but has a young sophisticated target, Department stores are in decline)

New Erewhon or Wholefood grocery type chains, having a huge corner for health and beauty.

New channels to discover: video shopping, live-streaming, Buywith Trendio Flip.

Quick answers:

1) You live in a nomadic way, preferred city to live? NYC Miami Austin LA SF Paris ? L.A ! A city with multi influences, entertainment, tech, and different cultures and ethnicities.

2) Strengths of French vs American people? Creativity, and we are also famous for scientific backgrounds and engineers.

3) Made in France, ingredients source in Africa, is it a good story? Yes, if first focusing on being multicultural, and having a founder’s story!

4) And the ones of our friends in America? Optimism, pragmatical.

5) Advice to the founders in the room today? Bootstrap, raise what you need, have an and advisory council for guidance in the early days of building your company. If connecting with BAs, ask for advice, insights, not directly for money. It’s a conversation and about building long term relationships.