Providence startup founder looks to build equity for Black-owned brands, one gift box at a time – The Boston Globe

How does this fit into your own background?

Professionally, I’ve come up in the digital startup world and have worked in the gifting industry. I’ve always worked in e-commerce and the digital payment space. A few years ago, I also launched a blog called Crumb Snatched, which is a food blog I created out of a need I saw to write Cape Verdean recipes for Cape Verdean Americans. I’ve learned a lot of new skills running that blog that are helping me with Boxed in Black. And, I also do some freelance consulting on the side that helps me sustain myself personally.

Your brand focuses on “premium and ultra-high end” products. Why is that?

There’s this notion that if a business is Black- or brown-owned, then everything is handmade or they’re very small. I wanted to bring to light that there are some beautiful, established brands out there that are founded and championed by people of color.

Right now, we’re mostly selling premium products. “Luxury” means different things to different people. We’re not yet “ultra-high end” but will get there as we grow.

Are there any local brands you’re featuring in the boxes?

We don’t specifically focus on New England-based products.

What are some of the brands you’re spotlighting?

We have a brand called Nopalera, which is owned by a Latin-American woman that has created a beautiful line of Mexican skin and hair care products. Cloth & Paper is a luxury stationary company that sells planners and other desktop essentials that’s Black-owned and founded. Teaspressa is owned by a woman who is Black and Korean who creates tea that honors her heritage in a really beautiful way.

Do you have investors? Have you done any fundraising?

I’ve been able to fund this mostly by myself with the help of a five-digit investment from a family member. I’ve won two pitch competitions, received some grants, and expect to win a third grant by the end of this year. I don’t have any formal investors, angel investors, or venture capital firms that are involved. I don’t want to dilute my equity too much, and I have not at all thought of having any sort of “exit plan.” I’ve actually been told that my business is not venture backable, but I don’t think we know enough about what this business can be to say that definitively. With that being said, I’m certainly not threatened by or discouraged by the fact that some in the venture capital world do not want to be involved.

What challenges are you facing?

Managing everything myself. I have a designer that helps with web design, but it’s really hard to consistently promote your brand, get it in front of people who are your target audience, focus on business development, and create all of the content.

What are your goals for the next year? What about the next five years?

For the next year, I want to grow my email list. I also want to roll out a gifting tool so people can create their own gift boxes.

My primary goal is really building out the business to business relationships for the corporate gifting side of the company. I’d like to hit $1 million in revenue by Year 3. If not by Year 3, then definitely by Year 5. I know it’s not an easy goal, but I think the company has a lot of potential to get there.

The Boston Globe’s weekly Ocean State Innovators column features a Q&A with Rhode Island innovators who are starting new businesses and nonprofits, conducting groundbreaking research, and reshaping the state’s economy. Send tips and suggestions to reporter Alexa Gagosz at alexa.gagosz@globe.com.

Alexa Gagosz can be reached at alexa.gagosz@globe.com. Follow her @alexagagosz and on Instagram @AlexaGagosz.