Beyoncé made a surprise announcement Monday, hinting that she is about to step into the multi-billion-dollar haircare industry.
In a candid post on Instagram, the singer and songwriter uploaded a carousel of three images. In the first, she is seen wearing all white while looking in the mirror while teasing her hair.
The second image is a picture from her childhood, where she is seen getting her hair braided while sitting in a salon chair.
And in the third, the big reveal.
“How many of y’all knew my first job was sweeping hair in my mama’s salon?” she wrote in a handwritten note. “I was exposed to so many different kinds of entrepreneurial women in her salon. I saw firsthand how the ways we nurture and celebrate hair can directly impact our souls.”
She continued: “I watched her heal and be of service to so many women,” and “having learned so much on my hair journey, I’ve always dreamed of carrying on her legacy. I can’t wait for you to experience what I’ve been creating.”
According to Technavio, “the hair care market in US is projected to grow by USD 1.95 billion with a CAGR of 4.82% during the forecast period 2021 to 2026.”
It’s no wonder why the I’m That Girl star would want to get in on a piece of the pie.
It was in March when Shine My Crown reported that the 41-year-old mother of three ended another business venture with top sportswear brand, Adidas.
According to an insider who spoke to The Hollywood Reporter, the most decorated Grammy Award winner and Ivy Park mutually agreed it was best to terminate their relationship.
The news came just one month after a recent Wall Street Journal report revealed that the former Destiny’s Child member’s popular clothing line “missed internal sales projections by over $200 million last year.”
While the Houston native still made $20 million in the deal, the line only made $40 million in 2022, a huge slump from the $93 million it made the year before. The company had projected the line to do $250 million.
This year, Adidas predicted the line would do $63 million in sales, although they had originally projected it would do $335 million.
