Since the protests against racial injustice started in spring 2020, were sparked by the deaths of Ahmaud Arbery, George Floyd and Breonna Taylor, major corporations have stepped up efforts to show their support to create initiatives that advance social change. Beauty giant L’Oreal announced that they will launch a new business grant program to help Black-owned brands.
Earlier this year, the company announced they will partner with the NAACP to create new initiatives to help the Black community. The launch of The Inclusive Beauty Fund will go to provide one-time grants worth $10,000 for Black-owned brands and services in the beauty sector to help their existing business.
“As the leading beauty company in the United States, we believe that we have a responsibility to invest in the small business owners and entrepreneurs who are the lifeblood of our dynamic beauty industry,” said Angela Guy, chief Diversity & Inclusion officer, L’Oréal USA in a press statement sent to BLACK ENTERPRISE.
“We are proud to team up with the NAACP to advance our shared mission of creating a more inclusive and equitable world during this time of great economic vulnerability for so many. We hope the Inclusive Beauty Fund will introduce us to entrepreneurs in the beauty industry that we can build strong relationships with well into the future.”
“Black-owned small beauty businesses are the heartbeat of their neighborhoods, and beauty business owners are navigating tremendous challenges stemming from the Covid-19 and recent events,” said Yumeka Rushing, chief strategy officer, NAACP. “The NAACP is proud to partner with L’Oréal USA to help support these entrepreneurs and ensure the longevity of the services and community their businesses provide.”
Interested entrepreneurs can apply for the grants now through February 18, through a submission form. Winners will be announced in April 2021.