As detailed by a recent article from global management consulting firm McKinsey & Company, “Black consumers are three times more likely to be dissatisfied than non-Black counterparts in hair and the wider beauty industry,” and that “addressing racial inequity in the beauty industry is a $2.6 billion opportunity” for brands seeking to better serve this consumer demographic.
Textured hair care is a rapidly growing consumer market, particularly in the US, where “more than 11 percent of all beauty customers are Black—and yet Black brands account for a mere 2.5 percent of total beauty industry revenues,” McKinsey & Company noted in its report.
To investigate and provide insight into the textured hair care space, recently curator and host Tyesha Friday launched the Coils, Cash, and Culture podcast to speak candidly about these issues and more.
As detailed in a recent press release, the new podcast explores “the cultural and economic opportunity for creatives and entrepreneurs in Black and textured hair, featuring dynamic conversations with people from a range of professions who are committed to increasing positive visibility and improving the care of kinks, coils, and curls.”
The podcast, which recently released its first season, features guests including James Catalano, Professional Hairstylist: Breaking into Professional Styling, Rashida, founder of Boombastic Braids: Building a Braiding Business, and Samantha Kidjo, founder of ICI Care: Making Hair Product Healthier.
By providing an intimate look into the textured hair care space, “this podcast celebrates the diverse range of professionals, from hairstylists to product creators, community cultivators, artists, salon owners, and e-commerce pioneers, who are making their unique mark on consumers,” the release shared further.
To learn more about the Coils, Cash, and Culture podcast, including some background behind the podcast’s launch, its potential impact on manufacturers and suppliers operating in the textured hair care space, and plans for the second season’s launch, CosmeticsDesign interviewed Friday for her insights.
CDU: Can you share some background information about the Coils, Cash, and Culture podcast?
Tyesha Friday (TF): Coils, Cash, and Culture is a new podcast exploring the intricate interplay of creativity and entrepreneurship within the Black and textured hair economy. When I was a teenager, I went through a phase of loving the hair and photography on the front of Jet magazine on my bedroom wall.
Growing up in Cambridge, England there was little inspiration or local representation of hair and beauty that reflected me. Then through learning about Lisa Price’s business journey with Carol’s Daughter I became intrigued at the business side of hair.
In 2022, I made a directory of all the hair salons servicing Black and textured hair while learning to make web apps. Then in 2023, after establishing a career in communications and building brands at companies at interesting intersections such as Square and TIDAL; I decided it was time to create a space solely committed to amplifying the stories of people shaping the future of the Black and textured hair economy.
I'm sadly better at helping people and brands tell stories than actually giving hair styling advice.
CDU: What is the potential impact of the podcast launch on manufacturing and supply companies to the cosmetics and personal beauty care product industries?
TF: Over time I hope to increase awareness and spark interest in a traditionally underserved market with fruitful demand, despite the low customer satisfaction. Every download means more people pay attention, more people make purchases, and more people ask questions. This is how ideas are born, believed, and backed.
In manufacturing and supply, there has been a strong hold on who dominates the retail experience and supply of products for consumers. The experience can be improved and the supply chain more decentralized with newer brands, bringing a new twist to products consumers have come to accept as normal despite lifelong dissatisfaction.
The cosmetics and beauty care industry is ripe with new start-ups, such as Bread, Ruka, and Rebundle, all finding room in what is still considered a niche economy. Consumers listening to the podcast have a place to discover what’s new and maybe spot a problem they feel empowered to solve.
CDU: Do you have any upcoming episodes or topics that will be of particular interest to cosmetics and personal care product manufacturers or suppliers? If so, what are those topics or episodes?
TF: Currently working on season two plus a special series dedicated to the profession of hairstyling. For season two, the theme will be about founders and things to know when getting started whereas season one was a mixed bag of topics.
For season two, manufacturers and suppliers will learn more about how brands are contesting old hair myths, and what’s on trend for product creations. I’ll also be speaking to experts in topics of interest for founders including raising money and product development.
CDU: What are your goals with the podcast in terms of covering industry related news, particularly with audience members who are professionals in the cosmetics and personal beauty care product manufacturing and supply industry?
TF: The goal is to cover the journeys of real people doing the work to make people love kinks, coils, and curls. For professionals, I want the show to be a source of inspiration and a platform to give credit to those doing the groundwork; that one day will hopefully feel foreign because there’s better equality, investment, and recognition across hair types.
I also recently started Notes which is a once-a-week written, you guessed it, note on what’s happening in the industry.
CDU: What are your future goals with the podcast in terms of expansion or future coverage, particularly as relevant to the cosmetics and personal care product manufacturing and supply industries?
TF: My future goal is to expand the types of guests and have legacy industry leaders come on the show for unfiltered conversations about their efforts to better understand and meet the needs of customers. It doesn't need to be the CEO.
Instead, I want to speak to the people in these companies who are ‘hands on’. I also want to look at the influence of other industries such as music and fashion on the trends in Black and textured hair that eventually always go on to be mainstream.