Cost of Doing Business (CODB), the holding company co-founded by Topicals CEO Olamide Olowe and President Sochi Mbadugha, has acquired premium haircare brand Bread Beauty Supply.
According to a news release, the acquisition is CODB’s first step in building brands that connect culture, community, and commerce — especially as many companies scale back their diversity, equity, and inclusion (DEI) efforts.
“At a time when DEI commitments are being rolled back, it’s critical that Black-owned businesses not only survive — we have to win,” Olowe said. “Maeva Heim, BREAD’s Founder, is one of the most talented creatives in the space and has led BREAD to have a major impact in the hair care industry, and with CODB’s resources and expertise, we’re ensuring that it continues to grow while remaining deeply rooted in its mission and creative ethos.”
With Bread now under CODB, the brand is set for growth while preserving its commitment to textured hair care. The acquisition will support the brand’s launch in all Ulta Beauty stores in April and its expansion into additional Sephora locations throughout 2025.
Founding Bread in 2020, Heim was inspired to create the brand after spending much of her childhood in her mother’s braiding salon in Perth, Australia, according to the company’s website.
While she began her career working with large global beauty brands, Heim felt overlooked in mainstream hair discussions and struggled to find clean, practical, and enjoyable hair products — leading to the birth of Bread. The brand offers a variety of products suitable for all Black hair textures.
“The brand message is that it doesn’t have to be perfect. You can have frizzy hair, and it’s still healthy and it’s still cool,” Heim said in an episode of Sephora’s “Why I Made This” ad series.
She added, “Bread is all about giving people what they need for their haircare, no matter how they want to wear their hair.”
As part of the acquisition, Heim will remain with the brand as Bread’s chief creative officer, where she will continue to drive its creative vision and product innovation. Olowe and Mbadugha will be strategic advisors, and a newly appointed leadership team will manage the brand’s daily operations, the news release states.
Operating as separate entities, Topicals will continue to redefine skin care, while CODB will focus on acquiring and building businesses that prioritize culture and community, creating lasting opportunities for creative entrepreneurs.
Additionally, CODB will subsidize marketing costs for other small businesses to increase visibility and market share, leveraging a network of cultural agencies and partners.
