“Doesn’t Always End Well”- Minnie Dlamini On Lessons Learnt After Skincare R10 Million Company Went Out Of Business
Minnie Dlamini has finally spoken after news that her R10 million skincare company went out of business after hitting the shelves in 2019.
Earlier this week, news circulated that Minnie Dlamini’s R10 million company Modi Dlamini Marketing and skincare range of products MD by Minnie Dlamini has gone out of business.
City Press reported that MD by Minnie Dlamini went out of business because it had outstanding annual tax returns for the third time since it was registered in 2016.
As a result of noncompliance with SARS regulations, Minnie Dlamini’s company was deregistered.
The company’s website and Instagram accounts have since been deleted while its Facebook and Twitter accounts have been inactive for a while.
In an interview with YouTuber Nono D on Tuesday, Minnie Dlamini confirmed her company had been discontinued and liquidated.
The skincare line was created in partnership with Zeta Laboratories by Modi Dlamini Marketing.
The products debuted in June 2019 and featured body lotions, soaps, and body washes enhanced with eviolin in three variations: chocolate crystal, rose quartz, and tropical topaz.
Dlamini was questioned about what happened to her MD skincare range. She said the experience enabled her to learn more about the retail space. Minnie Dlamini said:
MD Body SA has come to an end, unfortunately. I had to liquidate the company. Things happen, you work with people…Doesn’t always end well. But yeah, it was a great learning curve for me and with everything that happens in life, I always say that there is no such thing as a loss it is a learning curve and an opportunity to learn how to do things better and that’s what that experience really taught me.
Minnie Dlamini said she learnt that she does not need to have her name on the item that she is selling. She also revealed that she learnt that it is not always the manufacturer who makes the money. Dlamini said:
It taught me exactly what the retail space looks like. Who the people are that make the money. You know we get so excited about I want equity and I wanna own the brand and I want my name to be on the brand. But that might not necessarily be where the money is at. I think that’s what I really got to learn. If you think of a burger company right, and you think you wanna own the burger company, you wanna own the joint. Maybe you just wanna be the guy that supplies the tomatoes or the guy that supplies the rolls, coz the chances are they are making a lot more money than the next person. So those are some of the things that I learnt about the retail space that I learnt the hard way but I learnt it and think I’m so much better for it.
She revealed that she has a brand that is out on the market that has been sold out but it does not carry her name. Minnie Dlamini said she will make an announcement regarding the product in the coming weeks.