Pinky Cole made a major announcement that had her fans a bit worried at first, but they were quickly able to breathe a sigh of relief and give her a round of applause.
The 37-year-old entrepreneur took to Instagram after a long break from the platform to share that she had faced a series of business challenges. These challenges led her to reorganize and hand over control of her popular Slutty Vegan restaurant chain.
In a video shared with her one million followers, Cole opened up about the toughest few months of her entrepreneurial journey. “The last couple of months have probably been the most incredibly difficult of my life,” she said. “As of February 13, the company went through a global restructuring. And as a result, I no longer own the company. I’ve felt every emotion you can imagine—grief, sadness, fear, depression, uncertainty.”
She went on to explain that the journey was tough, but that she learned a lot through the process. “What a lot of us entrepreneurs go through, I have gone through. But I realized that as long as I continue to stick to my faith, God will always be by my side. Change is hard, but it’s necessary, and it’s always for the best.”
Cole then urged her followers to swipe through to see who the new owner of Slutty Vegan was. But instead of a new face, it was Cole herself, dressed in a staff uniform, walking into the restaurant.
It was all part of a clever marketing move for what she’s calling Slutty Vegan 2.0.
In an exclusive interview with People, Cole explained that while her company was valued at $100 million, she had $10 million in corporate overhead alone. So, she made the decision to downsize, closing locations like the one at Spelman College, and transferring ownership to an assignee. This set her up to buy the company back for an undisclosed amount and relaunch with a fresh perspective.
She also shared that she recently survived a terrifying car accident when a mattress on the road hit her windshield. She took this as a sign to slow down and take a break after a year filled with intense work and setbacks.
At first, Cole was worried about the judgment she might face for sharing the highs and lows of her business journey. But now, she’s confident that her openness will inspire future entrepreneurs—especially in the Black community—to avoid making the same mistakes and learn from her experiences.
