Social Impact commitment continues to help transform the beauty industry
NEW YORK, March 22, 2023 /PRNewswire/ — Glossier’s vision is to change the way the world sees beauty — and the brand aims to do that by helping change the beauty industry itself. As part of Glossier’s continued investment in diversity, equity, and inclusion in beauty (and beyond), the brand announces the launch of its third Grant Program for Black-Owned Beauty Businesses, committing $300,000 and doubling down on mentorship provided by Glossier team members, towards six visionary businesses in the U.S.
Glossier’s Grant Program will provide financial support by way of grant money, access to Glossier’s expertise in areas relevant for the specific grantee such as supply chain or product development, and exclusive access to Glossier’s network including VCs, C-Suite Executives and past Grantees.
In 2022, Black founders raised only 1% of all venture capital funding— a disappointing decrease from the 1.3 percent raised in 2021. Despite the fact that Black consumers make up over 11 percent of the U.S. beauty market – spending over $6.6 billion on beauty annually — Black-owned brands only capture 2.4 percent of revenue in the overall beauty market.
Since the Grant Program’s inception in 2020, Glossier has been honored and humbled to partner with 30+ founders leading 26 innovative beauty brands. There’s a strong track record of success, with Grant Program alumni like Range Beauty, Young King, and Luna Magic appearing on Shark Tank, and Skimdo winning an Allure Best of Beauty Award. Grantees have also gone on to national retail distribution such as Golde and Eadem.
The application window is now open. Submission criteria includes:
- Purpose: The inspiration and purpose behind your business and the impact you hope to achieve both for your customers and the broader community
- Differentiation: What sets your brand and products apart from others in your category
- Business Plan: Your plans for business growth and how Glossier’s Grant Program will help you achieve your goals.
Applicants must be beauty brands with physical beauty products (not service providers, not salons, not spas) who are seeking support and resources, and are available to actively participate in four months of programming.
How it Works
Grantees will be paired with a Glossier executive advisor for mentorship, have access to business programming on topics ranging from supply chain to product development to influencer marketing, and participate in 1:1 meetings with functional experts across the Glossier team, connect with alumni grantees from previous years, and receive support from Glossier’s community of partners like Shopify and Google.
The application window is open now through April 11 at 12 a.m. EDT. Click here to apply. Applicants will be notified in June 2023.
Full Grant Program details available here.
UK Black Beauty Business Owners: Next month, the Grant Program will expand into the UK market, in partnership with Black Girl Fest (sign up for updates).
About Glossier
Glossier is a beauty brand inspired by real life, whose vision is to change how the world sees beauty. The brand launched in 2014 with four essential products and today, has over 46 everyday essential products spanning skin care, makeup, fragrance and body care, as well as a successful line of merch, a passionate dedicated following of more than 2.7 million followers on Instagram and 1.5B TikTok views on #Glossier. Glossier has nine retail locations and recently launched a wholesale partnership with Sephora in North America.
SOURCE Glossier
Originally published at https://www.prnewswire.com/news-releases/glossiers-2023-grant-program-for-black-owned-beauty-businesses-now-accepting-applications-301778044.html
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