Olamide Olowe is stepping down as CEO of Topicals, the Black-owned skincare company she co-founded in 2020 when she was just 23.
The move comes as the fast-growing beauty brand prepares for its next stage of global expansion. Olowe will remain closely involved with Topicals, while Sukiana Chancy, a former Fenty Beauty executive, takes over as CEO.
For Olowe, the leadership change comes after an impressive five years. Topicals has grown its revenue 12 times, sold more than 10 million eye masks and raised more than $22 million in venture funding, according to figures shared by Olowe.
Olamide Olowe Built Topicals From the Ground Up
Olowe co-founded Topicals with Claudia Teng in 2020 after both women had an interest in dermatology. They created the brand to offer products that address common skin concerns such as hyperpigmentation, acne and other skin flare-ups.
Topicals quickly found an audience, especially among younger shoppers and people with deeper skin tones who have often been overlooked by the beauty industry. The brand has since grown from a young startup into a global skincare business with products sold through Sephora in the United States, Canada and the United Kingdom. (Fast Company)
The company’s growth has also made Olowe a standout figure in Black entrepreneurship. In 2021, she raised $2.6 million for Topicals, making her the youngest Black woman to raise $1 million at the time. Later, she helped lead the company through a $10 million funding round. (Fast Company)
Topicals Reaches $22 Million in Funding as Brand Expands
The numbers behind Topicals show just how quickly Olowe’s company has grown. She recently shared that the brand has achieved 12 times revenue growth over five years and has raised more than $22 million in venture capital.
Topicals has also built a strong retail presence. Its products are available through Sephora across several major markets, while the company has established a Beauty Hut in Nigeria. The brand launched in the United Kingdom with Sephora in 2024. (The Industry Beauty)
That growth has now created a different challenge for Olowe. Instead of building the company from the early startup stage, Topicals needs experienced leadership that can help manage a much larger global operation.
Sukiana Chancy Takes Over as Topicals CEO
Sukiana Chancy is stepping into the CEO role with years of experience across the beauty industry. Before joining Topicals, she worked at Fenty Beauty, where she was responsible for the skin, hair and fragrance divisions.
Chancy has also held senior positions at Cay Skin, DevaCurl and The Estée Lauder Companies. Her background in marketing, brand building and business operations makes her a strong fit for Topicals as the company enters its next phase. (The Industry Beauty)
Olowe explained that the decision was about bringing in expertise that could help the company grow even further.
“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,” Olowe told Business of Fashion. (Business of Fashion)
Olamide Olowe Prepares Topicals for Global Expansion
The leadership change comes at an important time for Topicals. The company is looking beyond its existing markets and plans to expand further across Africa, Europe and the Middle East.
That expansion could also create new opportunities for Topicals through Sephora’s international locations. For a brand that already has a presence in Nigeria, the push into more African markets could be especially significant. (Fast Company)
Chancy says she was drawn to Topicals because of its strong cultural identity. Her role will be to build the systems and infrastructure needed to take that message to a much larger audience.
“My role is creating more infrastructure to help amplify [the message] and bring it to as many eyeballs and faces as possible,” Chancy told Business of Fashion. (Business of Fashion)
Olamide Olowe Is Not Walking Away From Topicals
Although Olowe is leaving the CEO position, this is not the end of her involvement with the company she built.
Reports say she will remain involved in Topicals’ day-to-day operations, while other reporting describes her transition into the chair role. That means she can continue helping shape the brand while giving Chancy room to lead its next stage of growth. (The Industry Beauty)
The decision also shows an important part of entrepreneurship that is not always discussed. Building a successful company does not mean one person has to hold every leadership role forever. Sometimes, the next step for a founder is knowing when to bring in someone with different experience.
Angel Reese and Rema Are Among Topicals’ New Investors
Topicals’ growing influence has also attracted attention from major names outside the traditional beauty industry.
In January, WNBA star Angel Reese and Nigerian Afrobeats star Rema joined Topicals as investors. Their involvement adds even more visibility to a brand that has already built a strong connection with younger consumers and Black culture.
For Olowe, the investment from high-profile figures comes as Topicals enters a new phase. The company now has the funding, retail reach and brand recognition to pursue opportunities well beyond the startup she launched at 23.
Olamide Olowe’s Next Chapter Comes After a Major Win
Olowe’s decision to step down as CEO does not erase what she has already accomplished. She took a young skincare company from its launch in 2020 to a business that has generated 12 times revenue growth, raised more than $22 million and reached major international retailers. (Fast Company)
Now, at 29, she is handing the CEO role to an experienced beauty executive while helping Topicals prepare for a much bigger global future. For Black women watching her journey, the move offers another lesson in leadership: sometimes growth means building something strong enough to evolve beyond its founder.
Topicals’ next chapter will be led by Chancy, but Olowe’s fingerprints remain all over the company. What started as a young founder’s vision has grown into a global beauty brand with its sights firmly set on Africa, Europe and the Middle East.
