Responding to one of the hardest hit industries, salons and their employees, L’Oréal USA is implementing a multi-tiered support strategy for its stylist and salon partners, which includes a $200,000 donation from L’Oréal USA Professional Products Division to the Professional Beauty Association COVID-19 Relief Fund. The Fund supports licensed professionals who are unable to work due to COVID-19 and is intended to be emergency aid for short-term immediate needs, such as food and bills. L’Oréal USA will match additional employee donations to the Relief Fund dollar for dollar up to $25,000.
According to recent research by Kline & Company, the COVID-19 crisis stands to affect the professional beauty business similarly to the hospitality industry. Kline notes the potential for a substantial reduction in salon numbers, with businesses most likely reopening in the third quarter, but showing a potential unemployment range of 5 percent to 15 percent.
This recent effort is an extension of the L’Oreal USA Gives Back commitment announced in March 2020, made in addition to L’Oréal’s Europe-wide Coronavirus Solidarity Program, which includes a 1 million Euro donation to non-profit organizations across Europe.
David Greenberg, Group President of L’Oréal USA’s Professional Products Division, said,
“Since the beginning of this unprecedented moment, the safety and well-being of our employees, customers, and partners have been our top priorities. This is a challenging and uncertain time for the professional beauty industry, and we are committed, now more than ever, to our role as its partner and advocate. We will continue to work tirelessly to lessen the impact of this crisis and to aid in our industry’s recovery from it.”