Maureen Murunga, a Kenyan entrepreneur, has found her passion and success in the beauty industry. As the founder and CEO of Neo Amadiva, a high-end salon chain based in Nairobi, she is making waves and attracting attention from investors.
Murunga’s journey from a banking career to becoming a prominent figure in the beauty business is a testament to her determination and entrepreneurial spirit.
Here is her story as told by WoK.
Early Career and Inspiration
Before venturing into the beauty industry, the economics graduate from the University of Reading worked in leading financial institutions in London, Johannesburg and Nairobi for ten years before calling it quits to venture in the world of business.
Some of these institution she worked in include Prudential Insurance, Standard Chartered Bank and Barclays (now known as Absa) from 1999 to 2008.
However, her true passion lay in the beauty and hair care sector. She credits the documentary “Good Hair,” produced by US comedian Chris Rock, as a turning point that opened her eyes to the opportunities in the industry.
Speaking to Businessdaily Enteprise, the enterpreneur revealed that she quit employment while she was working in South Africa.
“I quit employment when working in South Africa. I saw many people doing some amazing things and I could see a lot of opportunities everywhere. I felt challenged and inspired and I decided to quit,” she told Enterprise.
“I tried out everything except what I loved to do. I was looking for businesses that would make me money. I lost so much dignity and money. I even lost so many friends; it was horrible,” Ms Murunga added.
Interestingly, her passion for started way back when she was university where she would braid people while in campus.
Recognizing the significant spending power of consumers and the lack of black representation in the creative aspects of the beauty business, she saw an untapped market and decided to make her mark.
The Birth of Neo Amadiva
In 2010, Ms Murunga took a bold step by acquiring an existing salon chain then running under the brand name Urembo and rebranding it as Neo Amadiva. The investment cost her Ksh8 million which she was able to secure from her savings and severance package.
She would later close the Barclays Plaza branch and opened another at 14 Riverside.
“I didn’t have any background in the salon sector and I figured that in order for me to avoid the pitfalls of starting from scratch, I would rather buy an existing chain,” she said at the time.
She believed that starting with a salon business would provide her with valuable insights and learnings to pave the way for future endeavours.
Her vision extended beyond just running a salon; she aimed to explore manufacturing, particularly in the hair and skin care product segments.
Despite the capital-intensive nature of manufacturing, she understood that gaining market experience and customer interactions would ultimately guide her in developing products that consumers truly desired.
“I gave myself 10 years to do this. There are difficulties but I don’t wake up any morning and feel I have made a mistake. I wake up most mornings in a panic, but I don’t feel like I made a mistake. I know what I am doing is exactly right and Neo Amadiva can make a difference,” she told howwemadeitinAfrica.
Targeting the Growing Market
By offering high-quality services at an affordable price within an appealing ambiance, the salon chain appeals to the younger generation, known as Generation Y.
These individuals are open to experimentation, still searching for what suits them best, and have yet to commit to specific brands.
Murunga understands that her business is ultimately about people and meeting their needs in the ever-evolving beauty landscape.
Challenges
Maureen Murunga found herself facing a challenging situation after her business was forced to close following the terrorist attack at 14Riverside Drive.
The business had built a reputation among Kenyans and even attracted celebrity clients.
The Dusit attack not only disrupted her daily routine but also caused her to reevaluate her life and the 45 employees she supported.
Despite the challenges, Murunga remains inspired by her daughter and sees this as an opportunity to redefine herself and embrace the inevitable journey of failure and growth.
Expansion Plans and Collaborations
With a clear vision and determination, Murunga has set ambitious expansion goals for Neo Amadiva. Her aim is to own and operate ten stores and eventually establish 200 franchise-branded stores in urban areas across East Africa.
To achieve these objectives, she has recognized the importance of expertise and collaboration.
Through the partnership with Dutch-based private equity fund TBL Mirror Fund, she has gained not only financial support but also access to technical expertise.
Collaborating with individuals like Peta Klaassen, the former CEO of Wave, a successful franchise salon store, has enabled the businesslady to leverage industry experience and drive product development.
