Kester Black
“Can a B Corp ethical-beauty brand survive DTC unit economics across three geographies as a small-team operation?”
HQMelbourne, Victoria, Australia
FoundersAnna Ross
Total raised$2.16M AUD (2021 equity crowdfunding)
Latest roundEquity crowdfunding via Birchal, October 2021
Valuation$22M (2021)
IndustryE-commerce / DTC brand
The story
Kester Black is an Australian B Corp-certified ethical/cruelty-free nail polish and cosmetics brand founded by Anna Ross and named after Saint Kester Bay in New Zealand. The company grew internationally via DTC e-commerce into Australia, New Zealand and the USA, using Airwallex for multi-currency operations. After raising $2.16M in 2021 equity crowdfunding at a $22M valuation, the company entered voluntary administration in July 2024, wiping out shareholder equity.
Product timeline
2021
Raised $2.16M from ~1,700 Birchal investors at $22M valuation· funding
2024
Entered voluntary administration on July 9, 2024· pivot
The stack
Accounting gap: none