A selection of Kester Black nail polishes from a December 2023 campaign. Source: Facebook/Kester Black.
Investors in cosmetics brand Kester Black say they were only told of the company’s financial hardships weeks after it entered voluntary administration, surprising those who contributed to its $2.1 million equity crowdfunding raise three years ago.
The ethical beauty label secured $2.16 million from nearly 1700 Birchal investors in October 2021, at a valuation of $22 million.
But the company behind Kester Black entered voluntary administration on July 9, in a process that evaporated its share value.
The administration was not…
