Our Investment in Ceremonia

  • While the category is large (US Haircare market growing to $9.8B by 2023), there are relatively few products focussing on the LatinX consumer specifically; certainly, none that take a clean, elevated, brand-forward approach
  • The LatinX consumer over-indexes on personal care spend relative to the average US consumer with Latina women, in particular, spending 46% more/year on hair care products than non-Hispanic consumers (per Nielsen).
  • Within personal care, hair care is an emerging trend (specifically scalp care and maintenance); the skin-ification of haircare is underway (see BoF piece). This is being driven by a secular trend towards increasing consumer interest in ‘self-care’.
  • A large market with a growing customer segment that is currently being under-served
  • Thoughtful, ingredient-level considerations driving product development coupled with a compelling product vision/roadmap
  • Strong, experienced, authentic founder
  • Compelling round dynamics and Exit prospects

In Summary

  • Large market, underserved segment
  • Growth tailwinds in the category
  • Thoughtful product development and roadmap
  • Authentic, mission-driven Founder

Why Black Jays

  • We love investing in under-loved categories with no clear brand winners
  • We know how to drive community engagement and customer acquisition through earned and paid channels
  • We understand how to support the growth of omnichannel brands



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