Chasity Monroe, the owner of Pink Noire Beauty Supply and Cosmetics, one of the few Black-owned beauty supply stores in Memphis, Tennessee, hopes to reclaim the Black beauty industry through her corporate and consumer perspectives.

Estimates from The Black Owned Beauty Supply Association (BOBSA) show the Black haircare and cosmetics industry is worth about $9 billion. However, less than 5% of the beauty supply stores in the United States are Black-owned, which presents Black shoppers with an issue; they purchase products from non-Black communities that do not understand Black hair.

I met with Chasity for a live discussion at her Beauty Insiders event inside Pink Noire. We discussed how her corporate background at Procter & Gamble prepared her for this business venture in addition to the many allies she's made. Chasity has her sights set on expansion and product placement in the near future. Take a listen and you'll discover why equity matters in this beauty industry that exploits our likeness yet has a very low barrier of entry for blacks.