GHP #14 - Artificial Intelligence in the Beauty Industry & Female Empowerment in Tech with Akosua Asare!

Akosua Asare is the founder and CEO of Essence Luxe Couture, a luxury wig brand powered by AI that uses ethically sourced hair to create meticulously handcrafted wigs. The company mission is to help those who suffer from hair loss, while breaking down the traditional barriers to entry for minorities in the beauty industry.

At the age of 21, Akosua developed alopecia, a condition where the immune system attacks hair follicles, leading to hair loss. Akosua immediately recognized the disconnect in the industry - custom wigs are expensive and limited to standard styles, colours, and head sizes, with no “trying on” process so to speak. So Akosua channeled her experience into an opportunity.

Today, Essence Luxe Couture creates custom wigs based on your specifications and is looking to expand this function with proprietary AI-technology. The end goal is to create an immersive experience in which you can virtually try on wigs of all shapes and colours, all from the comfort of your home.

We talk to Akosua about her journey building the company, her experience as a female, black founder in the tech space and the future capabilities of artificial intelligence in the beauty industry.

3:24 - Akosua’s story and the beginning of Essence Luxe Couture 12:39 - Disrupting the beauty industry with Artificial Intelligence  18:21 - Future opportunities for expansion 22:07 - Impact of the global pandemic 25:30 - Winning the Schulich People’s Choice Award 27:08 - Using E-Commerce Platforms (Etsy & Shopify) 32:00 - Online Growth Strategy 37:30 - Exposing Shopify gurus 44:38 - Entrepreneurship & Empowerment 48:15 - The Power of Regret 50:00 - Resources for Female Entrepreneurs 54:08 - Venture Funds vs. Black Founders 1:02:56 - Lightning Round