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L’Oréal USA Launches Second Edition of its Inclusive Beauty Fund, Calls for Applications

 

New York, NY, February 20, 2024 – L’Oréal USA today announced the launch of its 2024 Inclusive Beauty Fund, which provides financial support and resources to small businesses and entrepreneurs across the beauty industry. Administered in collaboration with the NAACP’s Economic Empowerment Fund and Hispanic Federation, respectively, L’Oréal has partnered with GlobalGiving to provide 40 one-time grants to small businesses and entrepreneurs in the beauty industry across the United States.

 

In 2021, recognizing that beauty businesses were some of the most acutely impacted by the economic fallout of COVID-19 and resulting shutdowns, L’Oréal USA partnered with the NAACP to provide much needed support in terms of funding and business mentoring to 33 small beauty businesses. Grant recipients used the funds to grow their inventory, refine marketing strategies, and open new retail locations. 

 

“The grant provided by L’Oréal USA and NAACP came at the perfect time for us. It truly provided us with the fuel to invest in inventory, as well as marketing. The resources were really the linchpin for us. As a business it provided us with a gateway to connect with salon owners and stylists in a whole new way,” said LaToya Stirrup, Co-Founder/CEO Kazmaleje, a recipient of an Inclusive Beauty Fund grant in 2021.

 

While progress has been made, L’Oréal recognizes the importance of continuing to support beauty entrepreneurs who are still facing economic hurdles and headwinds. These challenges limit their potential to scale their businesses and provide essential beauty services to consumers nationwide.

 

In 2024, L’Oréal USA is expanding the program to include NGO partner Hispanic Federation and grant administrator GlobalGiving, amplifying the reach and impact of the program. In addition to one-time funding, the company is committed to providing grantees with professional mentorship and business development support with the participation of top executives from its leading beauty brands and its professional beauty products distributor, SalonCentric. 

 

“The Inclusive Beauty Fund is one of the cornerstones of L’Oréal’s broader commitment to advancing inclusivity within the beauty industry," said Liliahn Majeed, Chief Diversity, Equity & Inclusion Officer, North America, L’Oréal Groupe. "We value the role small businesses play in bringing vital products and services to consumers across all backgrounds and lived experiences and we want to do our part to support beauty businesses and entrepreneurs who are working to navigate economic challenges.”

 

Beauty businesses, extensions artists, braiders, estheticians, barbers, salon owners, suite owners, students and stylists nationwide are invited to apply for the Inclusive Beauty Fund.

 

 

 

How To Apply

 

Applications for the Inclusive Beauty Fund will be administered by the NAACP and Hispanic Federation, respectively. The NAACP and Hispanic Federation will each award 20 one-time grants of $10,000 each and applications opened on February 20. All submissions must be conducted through either the NAACP or Hispanic Federation’s websites, with links included below. The candidates selected to receive the grants will be announced in April 2024. 

 

 

 

 

About L'Oréal USA  

L'Oréal USA is the largest subsidiary of the L'Oréal Group, the world’s leading beauty company. Through its management of over 35 iconic beauty brands, L’Oréal USA has generated more than $10 billion in sales annually. Products are available across all distribution channels including hair salons, department stores, mass market, pharmacies, medi-spas, e-commerce and more. L’Oréal USA’s commitment to growth is generated through sustainable innovation and driven by the company’s L’Oréal for the Future ambition which demonstrates sustainable development across the Group’s value chain. The company is headquartered in New York City, employs more than 12,000 people, and operates administrative, research, manufacturing and distribution facilities across 16 states.

About GlobalGiving

GlobalGiving is a top-rated nonprofit that makes it easy and safe to give to local projects around the world, while providing fellow nonprofits with the tools, training, and support they need to thrive. Since 2002, GlobalGiving has raised more than $826 million from 1.7+ million donors for 34,000 projects in 175+ countries. To learn more, visit www.globalgiving.org.

About National Association For The Advancement Of Colored People (NAACP) 

The NAACP advocates, agitates, and litigates for the civil rights due to Black America. Our legacy is built on the foundation of grassroots activism by the biggest civil rights pioneers of the 20th century and is sustained by 21st century activists. From classrooms and courtrooms to city halls and Congress, our network of members across the country works to secure the social and political power that will end race-based discrimination. That work is rooted in racial equity, civic engagement, and supportive policies and institutions for all marginalized people. We are committed to a world without racism where Black people enjoy equitable opportunities in thriving communities.

NOTE: The Legal Defense Fund – also referred to as the NAACP-LDF - was founded in 1940 as a part of the NAACP, but now operates as a completely separate entity.

About Hispanic Federation

Hispanic Federation (HF) is a nonprofit membership and advocacy organization, founded in 1990, committed to empowering and advancing the Hispanic community, with a focus on low-income, marginalized and immigrant Latinos. With programs in 40 states, Puerto Rico, the U.S. Virgin Islands and the District of Columbia, HF’s focus areas include immigration, economic empowerment, civic engagement, disaster relief, philanthropy, education, health, and the environment. HF also maintains ongoing public education campaigns and meets the organizational development needs of its network agencies through grant-making and capacity-building assistance.

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