Hanahana Beauty

Hanahana Beauty

Early Stage

Redefine the Shea Butter + Body Care Industry

Redefine the Shea Butter + Body Care Industry


Raised to Date: Raised: $78,570

Total Commitments ($USD)



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Series A

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RegCF    Open SEC Filing

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Year Founded



Beauty & Personal Care

Tech Sector


Distribution Model




Capital Intensity



Chicago, Illinois

Business Type


Hanahana Beauty, with a valuation of $7.5 million, is raising funds on Wefunder. The company is bringing sustainability and humanity to the clean beauty market with its high-quality products. Hanahana Beauty products are consciously clean and are made using plant-derived ingredients sourced ethically from producers in Ghana. The business sells through more than 500 Ulta Beauty Stores nationwide and has achieved gross margins of 85%. Abena Boamah-Acheampong founded Hanahana Beauty in January 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $650,000. The campaign proceeds will be used for marketing, team growth, operations, and product development.

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Financials as of: 12/25/2023
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Analyst Report


In recent years, the beauty industry has significantly shifted towards clean, sustainable, and ethically sourced products. Consumers are increasingly aware of the ingredients in their skincare products and the impact of their purchases on the environment and society. This shift has led to the growth of brands like Hanahana Beauty, which are committed to bringing sustainability and humanity to the clean beauty market.

Hanahana Beauty offers a range of skincare products, including body butter and lip balm that is consciously clean and made using plant-derived ingredients ethically sourced from producers in Ghana. The company's products are good for the skin and contribute to the well-being of the communities involved in their production.

Hanahana Beauty has experienced significant growth over the past few years. The company started as a direct-to-consumer brand and has since expanded to retail, with its products available in over 500 Ulta Beauty stores nationwide. This growth has been fueled by the support of a passionate community and the increasing demand for clean, ethical beauty products.

Next Section: Price


Hanahana Beauty is raising funds on Wefunder at a valuation of $7.5 million. The company has achieved significant traction and recognition, featured in reputable publications such as Vogue, Forbes Magazine, The New York Times, and Essence. Hanahana Beauty has expanded its distribution and is now available in over 500 Ulta Beauty stores nationwide. Hanahana Beauty has attracted notable venture capital investors, including a16z, LongJump Ventures, and Capitalize VC.

With an annual revenue of $594,969, Hanahana Beauty has a revenue-to-valuation multiple of 12x. This multiple is relatively low compared to other companies raising online. However, it is important to consider that Hanahana Beauty is still in the early stage of development and is focused on growth rather than profitability.

While the valuation of $7.5 million may seem reasonable based on the company's current revenue and growth potential, investors should carefully consider the risks associated with investing in early-stage companies. Hanahana Beauty's success in expanding its distribution and gaining recognition in the industry is promising, but there are no guarantees of future success.

Next Section: Market


Hanahana Beauty operates in the US skincare market, currently valued at approximately $23 billion. This market is experiencing steady growth, with a compound annual growth rate of 4.2%. The market is driven, in part, by the rise of conscious consumerism, as consumers increasingly prioritize ethical and sustainable practices. This shift in consumer behavior bodes well for Hanahana Beauty, which prides itself on offering consciously clean, plant-derived products ethically sourced from Ghana.

The transparency and accountability of brands are becoming increasingly important in the consumer decision-making process in the skincare market. Hanahana Beauty's ethical sourcing practices and fair trade commitments enhance its reputation and attract conscious consumers. Despite this, the perceived higher costs associated with ethically sourced products may act as a barrier for price-sensitive consumers, a factor that Hanahana Beauty will need to consider in its pricing and marketing strategies.

Overall, the skincare market is growing steadily, though unlikely to explode. Current trends in the market, including conscious consumerism, play in favor of Hanahana Beauty.

Next Section: Team


Hanahana Beauty was founded by CEO Abena Boamah-Acheampong. Having spent seven years at the company, Boamah-Acheampong is dedicated to bringing sustainability and ethical practices to the market. She has successfully scaled Hanahana Beauty from a direct-to-consumer brand to being sold in Ulta Beauty stores nationwide.

Boamah-Acheampong's passion for conscious, clean beauty is evident in Hanahana Beauty's product offerings. The company uses plant-derived ingredients sourced ethically from producers in Ghana to create high-quality products. Hanahana Beauty has achieved impressive gross margins of 85% and has established itself as a trusted brand in the US skincare market.

Though her passion is evident, Boamah-Acheampong has no experience in the skincare market before founding the company, nor does she have any background in entrepreneurship. Learning the ropes may explain why it took around seven years for the company to generate meaningful revenue. She has since, however, made strategic hires in data analytics, operations, and strategy. Their expertise is evident in the ongoing successes of the brand.

Next Section: Differentiation


Hanahana Beauty differentiates itself in the clean beauty market by focusing on sustainability and humanity. The company offers high-quality products that are consciously clean and made with plant-derived ingredients sourced ethically from producers in Ghana. This commitment to ethics sets Hanahana Beauty apart from some of its competitors.

Several established competitors exist in the space, such as Yara Shea Beauty, Alaffia Shea Butter, and Sol de Janeiro; Hanahana Beauty's unique selling proposition lies in its dedication to sustainability and ethical sourcing. By partnering with producers in Ghana, Hanahana Beauty supports local communities and ensures the highest quality ingredients for its products. In fact, Hanahana pays producers twice the asking price for the products. In this crowded market, Hanahana has to trust that conscious consumerism trends will work in their favor enough to capture market share amongst competitors. 

With a focus on ethics and a growing customer base, Hanahana Beauty has achieved gross margins of 85%. This indicates strong demand for its consciously clean products and suggests that customers are willing to pay a premium for high-quality, ethically sourced beauty products. At $30 per body butter container, there are cheaper options on the market.

Next Section: Performance


Hanahana Beauty has achieved some early success in the market since its founding. The company's products, which are consciously clean and made from ethically sourced plant-derived ingredients from producers in Ghana, have resonated with customers. Hanahana Beauty has expanded its distribution and is now available in over 500 Ulta Beauty stores nationwide. The company's products have also gained recognition and exposure through features in reputable publications such as Vogue, Forbes Magazine, The New York Times, and Essence.

Financially, Hanahana Beauty has demonstrated steady growth. The company reported annual revenue of $594,969, representing a growth rate of 1.91% since the last reporting period. The raise page indicates that revenue for 2023 hit $700,000, representing more substantial growth. That said, the company is not yet profitable and has just over $15,000 in cash on hand, according to the raise page, leaving minimal runway should external funding goals fall short.

Next Section: Risk


Investing in Hanahana Beauty comes with several risks that potential investors should consider. Firstly, the company operates in the highly competitive skincare industry. It faces competition from direct and indirect competitors such as Yara Shea Beauty, Alaffia Shea Butter, Sol de Janeiro, OSEA, and Tree Hut. These competitors may have established market presence, larger marketing budgets, and broader product ranges, which could make it challenging for Hanahana Beauty to gain market share and attract customers.

Another risk to consider is the need for long-term scalability in production, sales, and distribution. Hanahana Beauty may face challenges in scaling its production to meet increasing demand, especially if the demand for its products grows rapidly. Expanding sales and distribution channels beyond Ulta Beauty stores may require significant time and resources.

Financially, Hanahana Beauty is not profitable and relies on external funding to sustain its operations. The company's ability to raise additional funds through crowdfunding or other means is crucial to its continued growth.

Next Section: Bullish Outlook

Bullish Outlook

Hanahana Beauty is well-positioned to disrupt the clean beauty market with its sustainable and conscious approach. By offering high-quality products made from ethically sourced plant-derived ingredients, Hanahana Beauty is redefining the shea butter and body care space.

The company has already achieved some success, with its products being sold in over 500 Ulta Beauty stores nationwide. This distribution network provides a strong platform for Hanahana Beauty to reach a wide customer base and drive sales.

Hanahana Beauty's commitment to sustainability and humanity resonates with consumers increasingly seeking clean, ethical beauty options. The company's emphasis on conscious sourcing and its impact on producers in Ghana further enhance its brand appeal. This unique value proposition sets Hanahana Beauty apart from its competitors in the extremely competitive industry.

Additionally, Hanahana Beauty has attracted notable venture capital investors, including a16z, LongJump Ventures, and Capitalize VC. The support from these investors signifies their confidence in the company's growth potential and ability to disrupt the market.

Next Section: Bearish Outlook

Bearish Outlook

Hanahana Beauty operates in a highly competitive industry, facing hundreds of direct and indirect competitors. These competitors already have established products, brand recognition, and distribution networks, making it challenging for Hanahana Beauty to gain market share and stand out.

Furthermore, the barriers to entry in the personal care industry are relatively low, allowing new competitors to enter the market easily and potentially dilute Hanahana Beauty's market share. Without strong differentiators or significant brand recognition, the company may struggle to maintain its position and attract a loyal customer base.

Although Hanahana Beauty has achieved some success in terms of shelf placement in Ulta Beauty stores and high gross margins, it will need to demonstrate sustainable and profitable growth to justify its valuation and attract further investment.

Next Section: Executive Summary

Executive Summary

Hanahana Beauty is a beauty and personal care company specializing in clean, sustainable products. The company's products made using ethically sourced, plant-derived ingredients from Ghana, are sold in over 500 Ulta Beauty Stores nationwide. The company has managed to achieve high gross margins of 85%, indicating a strong potential for profitability.

Despite operating in a competitive market, Hanahana Beauty has managed to carve out a niche by focusing on sustainability and humanity, which aligns with the growing trend of conscious consumerism in the beauty market. The company's commitment to ethical sourcing has enabled it to build a strong reputation and attract conscious consumers. It is competing against hundreds of other brands offering similar products. 

Hanahana Beauty has attracted investments such as a16z, LongJump Ventures, and Capitalize VC. The company's strong traction, high gross margins, and alignment with market trends make it an attractive investment opportunity, especially if the products can continually stand out in a crowded market. 


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Hanahana Beauty on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $7,500,000

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