.Glossier announced that it's taking applications to offer $500,000 in grants to burgeoning Black-owned beauty businesses.
entered the industry-inclusivity conversation with full force: The brand committed to donating $500,000 to organizations combatting racial injustice, and another $500,000 in the form of grants to Black-owned beauty businesses. On Thursday, founder Emily Weiss took to Glossier’s social platforms to explain exactly what that means—and why it’s a critical theme to address to change the industry’s landscape.
“When Glossier launched in 2014, we were fortunate to be one of the rare female-founded businesses to successfully raise venture capital; that year, only 3.1% of venture dollars raised by U.S.-based companies went to women,” wrote Weiss on Glossier’s blog. “We are also keenly aware that a Black woman with the very same vision likely would not have received the same support. Black consumers wield an enormous amount of purchasing power, yet Black women have received only .0006 percent of the $424.
Through July 3, the brand will be accepting applications for a series of tiered grants, offered to goods-oriented beauty businesses depending on their level of growth, with $10,000 for pre-launch, $30,000 for early-stage, and $50,000 for growth-stage.
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