African-American women spend a whopping $7.5 billion annually on beauty products and spent 80 percent more on cosmetics and skin-care products than the general market, according to Essence’s Smart Beauty research study in 2013.
Obviously, Black women love their cosmetics and more and more are looking to flex their spending power on Black owned beauty companies, such as A Maven’s World. Founded in October 2014 by CEO Anna Foster who holds both a business degree and a law degree from Suffolk University, A Maven’s World is steadily attracting customers–not only for its beauty products but for its entire lifestyle brand line.
“We launched during Boston Fashion Week, at the gorgeous Liquid Art House in the Park Plaza, Boston,” recalls Foster, who is also president of Eat, Drink, Dress Live magazine and vice chair of the Network for Women in Business-Massachusetts. “We had previously been operating since 2010 under two separate businesses: Fleur De Lis Fashion and WWMI Events. We needed a more global brand that defines our services, so A Maven’s World Lifestyle Brand was perfect.”
And there’s a reason behind the unique name. “The definition of a ‘Maven’ is a person in the know, derived from the Hebrew ‘Mevin’. A lot of time you hear the term ‘fashion maven’ or ‘business maven’. Because of my educational background and experiences, the name truly spoke to me and to those that support our brand,” explains Foster. “Additionally, it allows the brand to operate fluidly. This is what we want to transcend in our message. We offer a myriad of different things, however; whenever and wherever you see us, you know our brand is a positive movement; you are going to have a great experience and it’s going to be top-notch lifestyle experience.”
As a relatively new company, Foster’s venture has faced some challenges. “There will always be obstacles, especially being a woman of color and an entrepreneur, but I’m a half-full kind of person. So, I have to say we have been extremely blessed, with regards to being embraced in the industry by different races and cultures,” she says. One way she has overcome obstacles is by catering directly to her market.
“Our company is unique because through our events, business affiliations/services and shop collections, we share a mantra of optimism and empowerment. This is where we devote our energy and build organically outward from there,” she says. “Women share so many commonalities and that transcends to a bond, on many levels. With regards to customers that shop our Maven Fashion, Beauty and Home Collection, they range in age and gender. We curate trendy styles, but we also offer customization of fashion pieces and a home collection. In addition, we have a natural makeup line, that offers the latest color collections of lipstick and lip gloss.”
As Foster expands her company, she is looking ahead to next year. “Our goal for 2016 is in building A Maven’s World Lifestyle Brand. We will always stay connected to our brand supporters and continue to provide support to other businesses and brands in the process. We provide business support through our affiliate program and professional workshops,” she says. “The sky’s the limit and we are always open to new opportunities. Our plan is to continue moving forward with greater purpose.”