Sephora Expands Racial Diversity Push Through Grant Program
- Retailer to offer access to capital to minority-led businesses
- Company previously pledged more shelf space to Black brands
Sephora is pledging to increase access to grants and venture capital for minority-led beauty brands, the latest step by the retailer to support diversity in an industry that has been criticized for catering largely to White customers.
The six-month incubator program, originally designed to boost women-owned brands, will host eight to 12 founders whose products range from hair-care to fragrance to skincare, Sephora said Thursday in a statement. The company, which didn’t disclose financial details, intends to develop, and ultimately offer to consumers, each brand that participates in the program.