Rhema has joined skincare brand Topicals as an investor, along with the WNBA star Angel Reesewhile the company announces a new round of financing supported by figures from the world of entertainment and sports.
The investment was the first reported by Business of Fashion, and the brand confirmed on Wednesday that both Rema and Reese are part of a wider group of cultural figures backing the business, rather than traditional institutional investors. According to the report, the move reflects Topicals’ decision to work with people already involved with the brand and its products.
Founded in 2020 Olamide LeadTopicals has raised more than $22.6 million to date and has become widely known for products such as $22 under-eye masks and a $38 fade serum, which targets dark spots and hyperpigmentation. The brand has also built a strong following through marketing and storytelling rooted in culture.
Speaking about the decision to bring in investors from the world of entertainment and sports, Olowe he said: “When you think about (Topicals), you think about our marketing, storytelling and products, and you think a lot about culture. These are the people who control the culture.”
She also addressed the broader investment climate facing black-owned brands: “Investors are putting their trust in black-owned businesses …. We’re really proud that other people who have capital in the culture want (our kind of business) to grow.”
Topicals’ approach comes at a time when access to funding has become more limited for early-stage cosmetics brands. Despite finishing as “one of Sephora’s fastest-growing skincare brands” in 2024, Olowe says that performing well alone is no longer enough.
In an an open lettershe wrote, “The beauty operating environment has become more challenging for early-stage and culture-driven brands… The system rewards scale over originality, infrastructure over insight, and capital density over cultural resonance.”
As part of the new initiative, Rema will also work with the brand as a creative partner, advising on ways to connect with younger consumers, particularly men, as Topicals looks to expand its audience in 2026.
