Rare Beauty Brands, JCPenney, and prestigious sponsors including Black Beauty Collective (BBC) and Black Girl Ventures (BGV) have launched the LIFT Beauty Accelerator. This initiative aims to support and empower female-identifying founders from underrepresented backgrounds in the beauty industry.
In 2024, the LIFT Accelerator will select five early-stage beauty brands to receive $10,000 grants, retail distribution opportunities, mentorship from beauty executives, and more.
Benefits for Winners:
Non-Dilutive Funding:
- Each of the five winning brands will receive a minimum of $10,000.
Retail Opportunities:
- Pitch JCPenney for potential in-store or online distribution.
- 1-year membership in the BBC and placement in Chicago & Los Angeles storefronts.
Practical Mentorship:
- Personalized mentorship from industry experts at Rare Beauty Brands and partners.
- Focused guidance based on real-time needs.
In-Kind Services:
- Claims support testing by Benchmarking Co.
- Product testing and validated claims support.
- Product registration by The Good Face Project.
- Retail support software & VOB from BeautyFluent.
- 1-year membership in the Independent Beauty Association.
Applications opened on June 3, 2024, and the deadline is July 18, 2024, at 5 p.m. ET. Winners will be announced in late September.
Chris Hobson, CEO of Rare Beauty Brands, expressed excitement about the initiative, stating, “We are thrilled to introduce the LIFT Beauty Accelerator and work with JCPenney and our partners to uplift underrepresented founders in the beauty industry.”
Leslie Roberson, Founder and CEO of Black Beauty Collective (BBC), emphasized the importance of such partnerships in promoting diversity and helping independent brand owners grow and thrive in retail.
Entry Criteria:
- Black and Brown female-identifying beauty brand founders.
- Brands with annual revenue between $10,000 and $1 million.
- Businesses beyond the ideation phase with fully developed products or existing customers.
- Located in the United States, operating in the beauty and/or personal care industry.
For more information, visit LIFT Beauty Accelerator.
