Serial entrepreneur Emma Grede is shedding light on a decision that raised some eyebrows: why she didn’t invest in the clean beauty brand Ami Colé, founded by Diarrha N’Diaye-Mbaye, but later hired N’Diaye-Mbaye at her own successful company, SKIMS. Grede recently discussed this on Les Alfred’s “She’s So Lucky” podcast, offering a candid look at her investment philosophy and business strategy.
The Investment Philosophy: Backing the Extraordinary
Grede explained her general approach to investing in early-stage companies. She typically avoids backing first-time founders unless there’s something truly exceptional about both the founder and their business proposition. “To me, I didn’t see that. I was like, ‘It’s okay.’ But I was like, ‘It’s gonna come and go.’ That’s how I felt,” Grede stated regarding Ami Colé at the time.
Instead of a financial investment, Grede chose to support N’Diaye-Mbaye through mentorship. She highlighted N’Diaye-Mbaye’s proactive approach, noting that she consistently reached out for advice and guidance, even after securing other investments. This mentorship fostered a strong relationship between the two entrepreneurs.
Ami Colé’s Closure and the Shift in Investor Priorities
Grede’s initial assessment of Ami Colé’s longevity proved somewhat prescient. In July 2025, N’Diaye-Mbaye announced the brand would be shutting down after just four years. In a candid piece, she cited business challenges and a shift in investor sentiment away from the inclusivity focus that had driven many Black-owned businesses following the 2020 racial unrest.
N’Diaye-Mbaye expressed disappointment that investor priorities seemed to change, moving away from the strong emphasis on equity and “betting big on inclusivity” that was prevalent earlier. This shift made it difficult to sustain the company’s growth trajectory.
From Founder to SKIMS Executive
Following Ami Colé’s closure, N’Diaye-Mbaye joined SKIMS. Grede described this move as a “perfect opportunity” for the talented executive to gain invaluable experience. Grede believes that N’Diaye-Mbaye herself acknowledged a potential lack of business acumen in her initial venture.
Grede articulated the strategic advantage of N’Diaye-Mbaye working within an established company like SKIMS: “If you have an opportunity to go inside a company where you have infrastructure and investment and executives and a bunch of people that can show you how it’s done and make something successful, and you can extrapolate all of the value from that for three years and go, ‘Thank you guys,’ and go off and try it again. Why would you not?”
Grede concluded by emphasizing the fundamental goal of business: making money. “The point of being in business is to make money. It isn’t to service the community,” she stated, hoping for community understanding of her pragmatic approach to business and career development.
What are your thoughts on Emma Grede’s approach to investing and mentorship? Do you agree with her perspective on business and community support? Share your opinions in the comments below!