Glossier’s grant program to support Black-owned businesses is being renewed.
Now through May 27, Black-owned beauty businesses can apply to Glossier’s grant program that looks to provide funding and advisory support to the next generation of beauty founders. The program was created last year; grantees were narrowed down to 16 from about 10,000 applicants. The program is part of a broader five-year, $10 million commitment to fostering equity, inclusion and representation in the beauty industry.
Glossier created the grant program to drive equity in beauty by supporting the next generation of industry-defining leaders. Black entrepreneurs have historically faced disparities and barriers in obtaining the necessary resources to build and grow their businesses. In 2020, Black founders in the U.S. raised less than 1 percent of total venture capital funding. The statistics for Black women entrepreneurs are even lower.
“Renewing the Grant Program for a second year is just one way that we hope to have a positive impact on our industry,” said Glossier Founder and CEO Emily Weiss. “Building a more equitable and inclusive beauty ecosystem starts from the inside out, which is why 50 percent of our $10 million commitment will go towards continuing the work underway to advance equity, inclusion, and belonging at Glossier for our corporate team and future retail employees (when we reopen stores), through learning and development, recruiting, leadership training, our employee resource groups, and much more. With our work inside and outside of Glossier, we’ll be intentional and iterative, doubling down on the initiatives that drive progress.”
Glossier’s Black-Owned Business Grant Program applications are open to Black-owned beauty businesses that currently produce and sell physical beauty products—cosmetics, products or tools for face, body or hair. The businesses can apply to receive one of ten $50,000 grants ($500,000 total), in addition to six months of dedicated advisory and business support.
Grant applications will be reviewed on three main criteria, including purpose, differentiation and business plan. Qualifying brands can find apply here.