UPDATE: Glossier has launched the names of the chosen individuals for the Grant Initiative for Black-Owned Businesses. Out of almost 10,000 purposes, 16 corporations had been chosen. “These 16 companies — starting from a superfood-based magnificence and wellness firm to a soon-to-launch males’s hair care model — blew us away with their imaginative and prescient, ingenuity, and keenness for altering the sweetness trade for the higher,” wrote Kim Johnson, senior neighborhood supervisor at Glossier, in a press launch.
The individuals had been divided into three classes: the growth-stage consists of companies launched over 12 months in the past and got the grant quantity of $50,000 per enterprise. The manufacturers included on this stage are AbsoluteJOI, Alodia Hair Care, Golde Wellness, Hanahana Beauty, and Melanj Hair. The early-stage consists of companies that launched prior to now 12 months and got $30,000 per enterprise. Included on this class are Brown Girl Jane, Epi.logic, Flaunt Body, Kanti, Luna Magic, Redoux, and The Most. Lastly, the pre-launch class consists of companies which have finalized marketing strategy with hopes to launch inside the subsequent 12 months. Every enterprise was given $10,000. This consists of Deon Libra, Eadem, Pound Cake, and Wavy Blue.
This put up was initially printed on June 12.
Amid the worldwide protests occurring in assist of the Black Lives Matter motion, many manufacturers within the magnificence trade have taken motion. One model on the forefront is Glossier, which introduced on Could 30 that will probably be donating $1 million to organizations centered on combating racial injustice and grants for Black-owned magnificence companies. Now, extra particulars concerning the latter have been revealed.
Founder and CEO Emily Weiss shared particulars of Grant Initiative for Black-Owned Businesses on June 11 and formally began accepting applications. US-based Black magnificence entrepreneurs can apply for a grant within the sum of $10Ok, $30Ok, or $50Ok, relying on want. If chosen, Glossier may even present advisory assist on issues like provide chain, packaging, and content material technique and use its community to advertise the funded manufacturers.
Beauty manufacturers that make cosmetics, skincare, physique care, and hair merchandise in addition to magnificence instruments are eligible to use. Weiss defined that submissions shall be evaluated primarily based on three predominant elements: the message, the model, and the plan. The appliance closes on July 3, and Glossier estimates roughly 15 companies shall be chosen.
Weiss Grant Initiative for Black-Owned Businesses to handle the inequity and lack of assist that Black-women-led companies get within the enterprise world, citing statistics that in 2014 “only 3.1 percent of venture dollars raised by U.S.-based companies went to women” and “Black women have received only .0006 percent” of enterprise capital raised since 2009.