One of the leading beauty products brand Sephora has made a major move today. Due to the lack of female entrepreneurs in the beauty industry, Spehora has launched a program deemed Accelerate for female founders of beauty startups.
“We saw a unique opportunity to draw from our history of working with beauty entrepreneurs to build a supportive community for women who are in the early stages of developing their businesses,” said Corrie Conrad, head of social impact at Sephora. “As a key initiative of our Sephora Stands social impact programs, which aim to use Sephora’s strengths for even greater good in our communities, we hope to build an ecosystem of support for more than 50 women-led beauty businesses with a social impact by 2020.”
According to Black Enterprise, the 12-month program is broken down into 4 key components: design support, mentorship, and grants and funding. Those will eventually lead to “Demo Day,” which is an opportunity for members of the program to pitch their ideas to senior leaders of Sephora and potentially receive a $2,500 scholarship grant.
SEPHORA will also be hosting Classes for Confidence in April of this year. initiative that utilizes the company’s existing infrastructure and programs for even greater good. Conrad continues, “This series of specialized in-store classes are complimentary and were developed to help inspire confidence in women facing major life transitions. Classes for Confidence offer a supportive environment where participants can learn and have fun, while also empowering SEPHORA store employees to make a difference in their communities.”[Source]