Meet Monica Over A Dark Roast With Cashew Milk
Monica Abramov, Co-Founder & CEO, Lunata Beauty & Unplugged Beauty | Toronto, Canada
“These business owners are the real deal”. That is the first informal introduction I had to Monica and her co-founder, Anastassia by one of our firm’s Partners after they boldly approached him in a coffee shop and offered him an on the spot elevator pitch. Needless to say, I was intrigued and the rest is history. It is impossible not get inspired by their individual stories and their journey as co-founders of Lunata Beauty and Unplugged Beauty. As an investor by way of our firm and as a current advisor, it was important for me to get to know both Monica and Anastassia at a deeper level. And so our regular coffee meetings began. My last Macchiato <> Dark Roast with Cashew Milk exchange with Monica was a powerful one. We discussed family, the hustle of raising a Series A, the launch of Lunata’s anticipated world’s first cordless hair curler, acquisition interest from buyers, the list goes on. I knew I had to share her journey with all of you as it has inspired me.
Monica is a serial Entrepreneur and Digital Marketing expert with wide ranging experience in various industries (telco, retail, e-commerce, CPG, media and pre-media, recruitment, tech and beauty, you name it!). Her entrepreneurial journey began in 2008, when she opened a bakery specializing in B2B baked goods for some of North America’s biggest brands (including Yahoo, L’Oréal, Maple Leafs Sports and Entertainment, McDonald’s, Virgin America and Microsoft). In 2014, she co-founded Canada’s first and only online bakery marketplace, shopbake.com, and signed 100 bakeries to the platform (impressive!).
Being a mom of two beautiful boys, a business entrepreneur, a wellness enthusiast, and a loyal member of all of her communities, Monica understood firsthand how multifaceted life can be! In order to cater to all of these facets of life, she wanted to feel good and look good, on the go. So in 2017, Monica co-founded Lunata Inc., along with Anastassia Boguslavskaya (check out her story here), a beauty tech company poised to disrupt the haircare industry with game changing, cordless hair tools.
Time for that Dark Roast with Monica. ☕️
What does community mean to you and how has your vast entrepreneurial career benefited from the power of connection?
M.A.: It’s everything. I feel like everyone I have met throughout this journey has, in some way, impacted it – by way of inspiration, connection, introduction to someone else, or by simply being a part of our community of supporters. People enter your life for a purpose, even if it’s not immediately apparent what that purpose is.
What daily ritual fuels your mind, body, and soul?
M.A.: I try to find 10 minutes a day to meditate. It’s not always easy with kids and dogs that love to bark, but I make every effort to do it as it keeps me centred and grounded. I also try to work out 3-4 times a week because I find it gives me so much more energy and gets out any pent-up frustration. Finally, I use my long commutes to listen to audiobooks and podcasts to fuel my mind!
Entrepreneurship runs through your veins! You have experienced highs and lows with grace and have since co-created and built Lunata Beauty, a brand aiming to help free women from cords and free them to go about their daily activities while feeling and looking their best. Enlighten us on your highest high and lowest low and how you have managed to stay the course in this messy yet beautiful entrepreneurial world.
M.A.: It’s definitely a roller-coaster. Any given day has highs and lows – we could be celebrating a huge win while also getting some bad news about a retailer that said no or a VC that has said we’re too early stage. One of my personal highest highs was when we screened the airing of our Dragon’s Den episode and had a big event for it – looking around the room and seeing all of our family, friends, investors, vendors, partners and supporters there felt absolutely incredible because we realized what kind of community we had built around us, supporting us in our mission. On the flip side, some of the lowest lows have come from running out of cashflow (a few times) and not knowing how we’d make payroll. It’s an ongoing struggle, but you need to keep your eye on the prize and keep the end goal in mind, always. The path to getting there will always be messy.
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Communication is the number one key here – ensuring that any issues, disagreements or differences in opinion get ironed out quickly.”
- Monica Abramov, on how to maintain a healthy and productive relationship between co-founders
How do you and your co-founder, Stacey, maintain a common vision for the growth of Lunata, Inc.? What daily or weekly rituals do you maintain as friends and colleagues that help propel the business and team forward?
M.A.: We basically talk 24/7 in some capacity so we’re constantly sharing our thoughts, ideas, and using each other as a sounding board. Communication is the number one key here – ensuring that any issues or disagreements or differences in opinion get ironed out quickly. We work really well together and tend to agree on most things though, so we’re usually on the same page.
Love that the brand name Lunata is a combination of the names of your two boys. How much inspiration do you draw from them and from your community to help you structure your days and build your brands?
M.A.: They are my #1 inspiration, but I also want to inspire them and show them that anything is possible if you work hard enough at it, you’re passionate, and you believe in yourself. When it comes to community, I feel like it’s so important to connect with other women on a similar path – whether it’s building their own companies or growing in their careers, I feel like you can learn and draw inspiration from anyone with passion.
We’d love to know, which brands and leaders inspire you as you grow Lunata Beauty?
M.A.: So many! Of course Emily Weiss from Glossier, Tara Bosch from Smart Sweets, and the ultimate beauty entrepreneur, Marcia Kilgore. But there are so many amazing brands and founders that inspire me daily!
Mindset you live by… go!
M.A.: Oh man – so many mindsets! One of the main ones in business is that a no is never really a no. We’ve reopened so many doors that were originally a no, but turned into a yes. This mindset has also allowed us to deal with those initial rejections a lot better – we used to take them personally, whereas we now just let them slide off our backs and know that if it’s meant to happen, it will when it’s right, and when it’s supposed to.
Connect with Monica!
To learn more about Monica and Anastassia’s journey with Lunata Beauty, see below!
https://wwd.com/beauty-industry-news/hair/mimran-invests-in-lunata-haair-1202924983/
https://www.cbc.ca/dragonsden/pitches/lunata-beauty