Black Female Founders In Beauty + Wellness To Support

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Black Dollars Matter. That’s the actual title of the Nielsen report put out in 2018. “Black Dollars Matter: The Sales Impact of Black Consumers.” The report gets into how much we spend, where, and my favorite....the impact of Black Twitter.

Don’t sleep on the impact you have as a consumer and the ability to rally through social media influence. The Black consumer spends $1.2 Trillion dollars annually.

TRILLION.

$1.1 Billion of this is on beauty products with my favorite category, skincare, making up $465 Million coming right behind hair at $473 Million. I’ve been fortunate that my career in aesthetics has given me close proximity to people in a number of different medical-grade skincare companies which have resulted in enough gifted skincare where I haven’t really needed to purchase skincare in a decade 🤪, but when it comes to my hair.....I go through a bottle of conditioner a week (quarter size of product my ass) when it’s curly and I am constantly buying new products between myself and my daughter.

With such a heavy week, it’s been amazing to see the spotlight shined on so many amazing brands and be able to discover many new ones. As a female business owner at Aesthetic Influencer, I support many entrepreneurs, but today I want to use this space to highlight black female entrepreneurs in the fastest-growing segment of female business ownership, beauty and also wellness.

Here are a few women we can celebrate and support right now.

** See my Instagram post HERE to see the full list and be able to give the women and their brand’s a follow on Instagram!

 

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@drkristianh of @blkandgrn

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The Future of Diversity in Beauty Is Funding

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A discussion at The Wing on Diversity in Beauty had me reflect with a guest on how major companies throw around the terms “diversity and inclusion” to drive sales and attention to their brands. In beauty, Fenty set off a foundation war with companies trying to outdo themselves and come out with the most shades who had more limited ranges prior to Fenty’s launch. Beyond that, @_foundla pointed out venture capitalist statistics yesterday that show we could have taken this conversation a step further because diversity and inclusion in venture capital might even matter most of all because the VCs that control where the money flows determines the diversity of entrepreneurs and ideas that get funded. Changing the dynamic of who sits at the investment table can have a long-term impact on the brands that have the privilege of entering our homes in the future.

As a woman of color, the statistics can sound defeating. An article I just read stated that in 2018, out of $85 Billion in VC funding, only 2.2% went to female founders with WOC getting less than 1% of total funding. 🤯 I believe a key to help close the gap is to have women not only “supporting” other women but FUNDING other women, but would love to hear your thoughts or experiences. #foodforthought