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Ipsy to Invest $7M in Black-Owned Brands

Retail Dive | January 19, 2021

Following protests against systemic racism and police brutality last year, Ipsy and many other retailers have promised to support and invest in Black-owned companies. Brands immediately came out with statements, with some pledging financial support to organizations fighting racial injustice or to Black-owned businesses.

Aurora James, founder and creative director of accessories brand Brother Vellies, called on multi-brand retailers to make the 15 Percent Pledge — a challenge to retailers to commit at least 15% of their shelves to brands owned by Black, Indigenous and people of color.

Ipsy has committed a total $7 million investment to market and develop products from Black-owned beauty brands in 2021, CEO Marcelo Camberos wrote in a company post. In conjunction with the investments, this month Ipsy is also launching Beauty Amplified — a program that "identifies and amplifies" Black-owned brands for the company's signature Glam Bags. So far, the company has enrolled 16 brands, according to the statement, including Pat McGrath Labs, Fenty Beauty and Uoma, among others.

Read the full article here

#retail #ipsy #beauty #diversityandinclusion

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