Topicals Names Sukiana Chancy New CEO

Topicals, a skincare brand popular with Gen Z consumers, has appointed Sukiana Chancy as its new chief executive officer, marking a significant leadership transition for the company. Chancy's appointment was exclusively announced to The Business of Fashion, signaling a new chapter for Topicals. Founder Olamide Olowe will step down from the CEO role but will continue to be involved in the brand's day-to-day operations. Prior to joining Topicals, Chancy held a prominent position as the general manager for Fenty Beauty's skin, hair, and fragrance divisions. She expressed her enthusiasm for the new role on Instagram, stating that while she never anticipated leaving her "dream job" at Fenty, she felt destined for this new opportunity and looked forward to collaborating with Olowe to expand the brand's reach. Olowe explained to The Business of Fashion that Topicals has reached a stage of growth where external expertise is crucial for continued development. She sought a leader with extensive experience in marketing, global brand building, and managing substantial profit-and-loss statements, indicating a strategic move to professionalize the company's operations. Topicals, recognized as the fastest-growing skincare brand at Sephora, was established in 2020. The brand specializes in addressing skin concerns such as hyperpigmentation, eczema, and acne, with popular products like its Faded Serum and under-eye masks. A core tenet of Topicals' mission is to serve deeper skin tones, which are often overlooked in the beauty and skincare industry. The brand has demonstrated remarkable financial growth, with revenue tripling in 2021 and achieving a sales rate of one product per minute in 2022. In 2022, Olowe, then 26 years old, became the youngest Black woman to secure over $2 million in venture funding, following a $10 million financing round for Topicals. The brand's success trajectory has remained strong, with Olowe sharing in an Instagram post announcing the CEO change that Topicals has experienced a twelvefold revenue increase over five years and has raised over $22 million in total funding. Chancy's extensive background at Fenty Beauty, a globally recognized brand, is expected to bring valuable insights and strategic direction to Topicals as it navigates its next phase of expansion and market penetration.