Introduction
Pinky Cole, the founder of Slutty Vegan, has built a reputation for her unwavering authenticity, even when addressing the lows and challenges that many entrepreneurs would prefer to keep hidden. Recent comments made by Cole regarding lawsuits targeting her growing healthy convenience food empire, Slutty Vegan, serve as a testament to her commitment to transparency and staying true to herself.
Serving Employee Needs
With a workforce of 450 employees, Cole recognizes the challenge of meeting the diverse needs of her team. In an interview with Black Enterprise, she openly acknowledged that some individuals may slip through the cracks despite her best efforts. Cole expressed her determination to always do her best, even if mistakes are made along the way, in order to ensure the welfare of her employees.
Legal Challenges and Lessons Learned
This year, Slutty Vegan and its offshoot, Bar Vegan, faced accusations of withholding wages and paying employees below the minimum wage, as well as allegations of taking a portion of their tips. Cole admitted to making a significant mistake by hiring family members in her business and vowed never to repeat that error. She emphasized the importance of operating like a multi-million dollar company, with a clean and professional approach, to navigate the complexities of running a successful enterprise.
Building a Strong Support System
Despite the legal challenges, Cole remains resilient thanks to her all-star legal and accounting teams. She understands the significance of surrounding herself with experts who can protect the business and its interests. Cole’s determination to move into the billion-dollar space showcases her ambitious vision for Slutty Vegan’s future success.
Expansion and Valuation
In 2022, Cole announced a significant milestone when she raised $25 million in Series A funding, which led to Slutty Vegan’s valuation reaching $100 million. The funding round was led by industry heavyweights, including Richelieu Dennis’ New Voices Fund and Danny Meyers’ Enlightened Hospitality Investments. Cole expressed her excitement about having Danny Meyers, a renowned figure in the food industry, on her team. She believes his expertise and proven success in scaling unique businesses will contribute to the continued growth of Slutty Vegan.
Conclusion
Pinky Cole’s authenticity shines through as she addresses the legal challenges faced by Slutty Vegan. Her willingness to openly discuss the lows of entrepreneurship demonstrates her commitment to transparency and growth. Despite the setbacks, Cole remains dedicated to serving the needs of her employees and protecting the integrity of her brand. With a strong support system in place and ambitious plans for expansion, Slutty Vegan is poised to make a lasting impact in the food industry under Cole’s visionary leadership.