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.