Black, Teen CEO Lands Surprise $200,000 Investment From Marcus Lemonis and Gayle King
An ambitious 14-year-old CEO from Columbia, S.C. named Gabby Goodwin always dreamed big, but little did she know a bigger blessing for her business GaBBY Bows was on the way from two special benefactors who believed in her.
Gabby was invited to share her entrepreneurial journey as a guest on a new podcast called “One Hundred Percent with Marcus Lemonis,” a famed TV personality, entrepreneur advocate, and philanthropist.
The bright-eyed girl shared her story of how she created a patented barrette after she kept losing her hair barrettes which kept falling out and explained how she’s now on her way to building a black hair care empire. Gabby was shocked and brought to tears when she learned Lemonis invited a special guest, Gayle King, to join them on the show and together they gifted little Gabby with a whopping $200,000 investment for her business.
“These investments mean so much to me. As a Black-owned business, it has been hard raising capital. To also be in partnership with both Marcus Lemonis and Gayle King is a blessing,” Gabby gushed. “Their investments will help me develop and purchase products and grow my team to better serve our Confidence families,” Gabby told BLACK ENTERPRISE.
Lemonis’ new endeavor is described as “a little bit of a masterclass, a cocktail party and a Sunday drive all wrapped up into 30 minutes with an audience invited to listen in.” Gabby surely got schooled in this masterclass and learned that there are people in her corner who are invested in seeing her business grow.
Gabby currently sells items such as the barrettes which stays put on hair braids, styling creams, hair wash day products, and pomade. Along with her supportive mother, Rozalynn Goodwin, “the mother-daughter duo has since filled online orders to all 50 states in the U.S. and in twelve countries,” per Gabby’s bio. GaBBY Bows can also be purchased in certain retail stores such as Target.
“I want to provide capital for growth and the money that I want to put in is specifically going to be earmarked for inventory, but I want the right kind of inventory, so I want you to study what kind of product you’re missing, like on the hair care products, not just the barrettes,” said Lemonis who gifted Gabby the initial $150,000.
Then CBS This Morning anchor Gayle King chimed in with her surprise gift: “I will give $50 (thousand),” said King.
Gabby’s Budding Business Will Now Get Bigger
BLACK ENTERPRISE asked Lemonis what was it about Gabby’s company that made him want to invest and help this young entrepreneur with her budding business especially when there are so many people who approach him with wild ideas.
He said: “Yes, I do have hundreds if not thousands of folks who come to me with some great, and other not so great, ideas. But when I’m evaluating a deal, I always make sure to not just invest in a product, but also the people behind it. What I loved about Gabby, is that she was a young woman who was looking for a solution to a problem. She showed tenacity, a willingness to take a risk and leap of faith, and the ability to listen, which is a quality of many great leaders. I believe Gabby has an incredible future in business and I’m just happy to be a small part of that,” Lemonis said.
Said Gabby’s proud parents mom Rozalynn and dad comedian Mike Goodwin: “Mike and I are so very proud of GaBBY and her accomplishments. Her perseverance, resilience and tenacity inspire us and countless others daily. We are grateful for this opportunity to empower more girls like her as we grow through this new partnership.”
Click here to learn more about GaBBY Bows.