Olamide Olowe is stepping down as CEO of Topicals and becoming chairwoman of the skincare company, with Sukiana Chancy, a former executive at Fenty Beauty, appointed as her successor.

The leadership change comes six years after Olowe co-founded Topicals in 2020, turning the skincare start-up into one of the fastest-growing brands at Sephora. The company has built its reputation around products targeting concerns including hyperpigmentation, eczema and acne, while placing particular emphasis on consumers with darker skin tones who have historically been underserved by the beauty industry.

The move does not represent Olowe walking away from the company she built. Reports say she will remain closely involved with Topicals, while her new position as chairwoman will allow her to continue helping shape the company's broader direction as Chancy takes responsibility for leading its next phase of growth.

Olowe explained that the decision came as Topicals reached a stage where she believed additional leadership experience was needed to help the company scale. Speaking about the appointment, she said:

“I wanted to partner with someone who has worked their way up through marketing, built a global brand, and managed a profit-and-loss sheet much larger than ours.”

Chancy brings significant experience from across the beauty industry. Before joining Topicals, she worked as general manager of Fenty Beauty's skin, hair and fragrance divisions, giving her experience with a global brand that has similarly placed representation, culture and inclusivity at the centre of its identity.

Her background makes the appointment particularly notable, as Topicals and Fenty Beauty have both challenged traditional approaches to beauty marketing. While Fenty became known for expanding expectations around inclusive makeup shades, Topicals has focused on bringing greater visibility to chronic skin conditions and the needs of people with deeper skin tones.

Chancy has expressed excitement about moving into the role, despite previously describing her position at Fenty as her “dream job”. Announcing the move, she wrote: “I truly never thought I’d ever step down from my dream job at Fenty, but God and the Universe apparently had bigger plans for me!”

She also said she was excited to work alongside Olowe and help develop the brand further. The appointment comes as Topicals prepares for a new period of international growth, with plans to expand further across Europe, the Middle East and Africa.

Olowe has also welcomed Chancy into the leadership role, saying:

“I’m excited to welcome [Sukiana Chancy] to lead our next chapter as our new CEO as we expand globally into the Middle East, Africa and the rest of Europe.”

Topicals has experienced significant growth since its launch. Olowe has said the company's revenue has increased twelvefold over five years and that it has raised more than $22 million in funding, which is approximately £16.4 million. The business has also attracted high-profile investors and supporters, including WNBA star Angel Reese and Nigerian musician Rema.

Olowe's success with Topicals has made her one of the most recognised young Black founders in the beauty industry. In 2022, she became the youngest Black woman to raise more than $2 million in venture funding after Topicals secured a $10 million financing round, approximately £7.4 million, according to Forbes.

The brand's appeal has largely come from its ability to combine science-led skincare with culturally relevant marketing. Rather than treating conditions such as hyperpigmentation simply as cosmetic concerns, Topicals has built a wider conversation around confidence, mental health and the stigma associated with visible skin conditions.

That approach has helped the company develop a strong Gen Z following, with social media playing a major role in turning its products into viral successes. Topicals' Faded serum, in particular, has become closely associated with the brand's approach to treating dark spots and hyperpigmentation.

The company's focus on darker skin tones is also significant within the wider beauty industry. For years, consumers with deeper complexions have highlighted gaps in skincare research, product development and dermatological education, while Black consumers have frequently pointed to the limited representation of their specific skin concerns within mainstream beauty.

Olowe has previously spoken about recognising that gap while developing Topicals. Her own experiences with chronic skin conditions helped shape the company's mission, while her previous experience working with SheaMoisture gave her insight into building a beauty brand for consumers who had often been overlooked by major companies.

Topicals' growth has also allowed Olowe to move beyond the company itself. In 2025, she and Topicals president Sochi Mbadugha launched Cost of Doing Business, a holding company focused on acquiring and building consumer brands. The company subsequently acquired Bread Beauty Supply, a textured haircare brand, expanding Olowe's interests further into the beauty sector.

Her move from CEO to chairwoman therefore comes as part of a broader evolution in her career. Rather than being responsible for every aspect of Topicals' daily management, Olowe can now concentrate more heavily on the company's long-term vision while Chancy brings her own experience to the executive role.

For Chancy, the challenge will be taking a brand that already has a strong identity and finding ways to scale it without losing what made it successful. Topicals now has to navigate a much larger international market while maintaining the community and cultural connection that helped it stand out in the first place.

The company is particularly interested in further expansion through Sephora, with Europe and the Middle East among the markets being targeted. Africa is also part of the company's plans, reflecting the increasingly global ambitions of a brand that began as a relatively small skincare start-up.

The leadership change also highlights a wider issue facing founder-led beauty businesses. As companies grow, the skills needed to start a brand are not always the same skills required to manage a much larger organisation. Bringing in an experienced executive can allow a founder to remain closely connected to the vision while giving another leader responsibility for scaling the business.

For Olowe, that transition marks another significant milestone in the development of Topicals. She has taken the company from its launch in 2020 to a recognised name in the beauty industry, secured millions in investment and built a brand that has resonated particularly strongly with younger consumers.

Now, with Olowe becoming chairwoman and Chancy taking over as CEO, Topicals is entering its next phase with both women bringing different strengths to the business. Olowe will continue to play an important role in the company's future, while Chancy takes on the responsibility of leading its day-to-day executive direction.

With ambitions to expand across Europe, the Middle East and Africa, the next stage could prove just as important as the company's rapid rise so far. The challenge will be growing Topicals into a global beauty business while preserving the culture, representation and community that helped make the brand successful in the first place.