African American Hair Care Products is a $9billion a year market where the consumers spend 3 times more than any other demographic, yet 95% of African American hair salons do not have a retail component to their business. Products are currently purchased at local beauty supply stores.
Mayvenn empowers stylists and salons to retail products without them having to purchase or manage any inventory. We are creating a direct sales distribution channel based on the existing stylist/customer relationship, lower prices, and better experience.
Stylists using Mayvenn are increasing revenue per client by 42%.
500 Startups is a Silicon Valley based seed fund & accelerator founded by PayPal, Google, YouTube, and Yahoo alums. We have invested in a number of e-commerce and fashion companies, and have co-invested with numerous top venture capital firms.