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In 2021, recognizing that beauty businesses are among the most severely impacted by the economic impact of the coronavirus and resulting closures, L’Oréal USA has partnered with the NAACP to provide much-needed funding and business guidance. provided support to 33 small beauty businesses. Grant recipients used the funds to increase inventory, refine marketing strategies, and open new retail stores.
“The grant provided by L’Oréal USA and the NAACP came at the perfect time for us. It truly provided us with the fuel to invest in inventory and marketing. “It gave us a gateway for us as a business to connect with salon owners and stylists in a whole new way,” says the co-founder, who received an Inclusive Beauty Fund grant in 2021. said LaToya Stirrup, CEO and CEO.
L’Oréal said that while progress has been made, it recognizes the importance of continuing to support beauty entrepreneurs who still face financial hurdles and headwinds. These challenges limit our potential to expand our business and provide essential beauty services to consumers across the country.
Program extension
In 2024, L’Oréal USA will expand the program to include NGO partner Hispanic Federation and grant administrator GlobalGiving, expanding the program’s reach and impact. In addition to one-time funding, the company will provide grant recipients with professional mentorship and business development with the participation of top executives from SalonCentric, a leading beauty brand and distributor of professional beauty products. We are committed to providing support.
“The Inclusive Beauty Fund is one of the cornerstones of L’Oréal’s broader efforts to advance inclusivity in the beauty industry,” said Lillian Majeed, Chief Diversity, Equity and Inclusion Officer for L’Oréal Group North America. Masu. “We value the role of small businesses in providing important products and services to consumers of all backgrounds and experiences, and we recognize the role of beauty businesses and entrepreneurs working to overcome economic challenges. We want to do our part to support them.”
Beauty businesses, extension artists, braiders, estheticians, barbers, salon owners, suite owners, students, and stylists nationwide are welcome to apply to the Inclusive Beauty Fund.
How to apply for L’Oréal’s 2024 Inclusive Beauty Fund
Applications to the Inclusive Beauty Fund are managed by the NAACP and the Hispanic Federation, respectively. The NAACP and the Hispanic Federation will award 20 one-time grants of $10,000 each, with applications opening on February 20th. All applications must be made through the NAACP or Hispanic Federation websites linked below. Candidates selected to receive grants will be announced in April 2024.
Please use this link to apply through the NAACP. Please use this link to apply through the Hispanic Federation.
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