Ulta Beauty initiates the second iteration of its speedy business development program
🔥 Ulta Beauty Unveils MUSE Accelerator for burgeoning Beauty Brands 🔥
Here's the scoop on the latest move by Ulta Beauty! The beauty retail giant has announced the second batch of participants for its MUSE Accelerator program, designed to foster fledgling beauty entrepreneurs from diverse backgrounds. The 10-week bootcamp, running till November, will provide invaluable training to these founders. 🎓
Who are the big names backing this venture? Mentors from Meta, TikTok, Métier Creative, and True Beauty Ventures will join forces with established brand founders like Hero Cosmetics, Youthforia, and more to help these visionaries bloom. 🌱
The beneficiaries of this program will swim in a cool $50,000 to swiftly propel their businesses to the next level. 💰
What does Ulta Beauty expect to achieve with this initiative? According to Chief Merchandising Officer Monica Arnaudo, this accelerator is a vital step toward ensuring Ulta's exclusive product range remains an authentic reflection of the diverse clientele it serves. "By nurturing fresh voices in the industry, we can create a more inclusive beauty universe that mirrors the vibrant diversity of our community," Arnaudo declared. 🌟
So, who's part of this year's cohort? Meet these remarkable trailblazers:
- Devin McGhee Kirkland and Brit Kirkland of Deon Libra, a mindfulness-based skin care brand
- Jessica Pritchet of OOLI, a plant-based, gender-neutral hair care line
- Sharie Wilson and Tonya Thompson of DreamGirls, a haircare brand catering to textured hair
- Ana Nuñez of Vida Bars, a haircare line focusing on textured hair
- Octavia Morgan of Octavia Morgan Los Angeles, a gender-neutral beauty brand
- Leigh Joseph of Skwalwen Botanicals, a plant-based skincare line
- Olivia Bae and Hyeri Sung of Perseve, another haircare brand
- Melissa Samuel of FinesseYourClaws, a luxury press-on nail brand
In a similar vein, direct-to-consumer brand Glossier runs a grant program for Black-owned beauty startups, offering financing, mentorship, business guidance, and one-on-one meetings with the CEO, Kyle Leahy. 👩🏽🦳
Sephora, too, has hopped onto the bandwagon, launching its 2023 Accelerate Brand Incubator Program. This program, targeting founders from underrepresented communities, provides 6 months of mentorship, merchandising support, grants, investor connections, and the chance to launch their products at Sephora. 🛍️
From Glossier's grant program to Sephora's accelerator, the beauty industry is clearly taking a stand for diversity and inclusion, reflecting an exciting future for the beauty scene! 💄💅️
- The environment of the cosmetics sector is evolving with major retailers like Ulta Beauty prioritizing diversity and inclusion, as demonstrated by the MUSE Accelerator program for beauty brands.
- In the field of education and self-development, Ulta Beauty's program offers mentorship from tech titans like Meta and TikTok, alongside established brand founders, to guide burgeoning entrepreneurs.
- The intersection of law and business is undergoing change, with AI likely to play a significant role in the future, as new startups and established brands alike adapt to digital platforms and innovative strategies.
- The finance sector is increasingly recognizing the potential of fashion-and-beauty businesses, offering grants and investments to diversify the industry and nurture new talent, such as Glossier's grant program for Black-owned startups.
- The lifestyle sector is enriching its offerings, not only in beauty products but also in areas like mindfulness and wellness, with brands like Deon Libra, which uses mindfulness principles in its skincare line.
- Space for growth is emerging in the business world, as evidenced by the MUSE Accelerator and other initiatives that foster diversity and innovation, such as Sephora's Accelerate Brand Incubator Program.
- The use of adaptogenic ingredients in skincare and hair care products is becoming more prevalent in the beauty industry, reflecting a growing consumer demand for clean and sustainable products like those offered by Skwalwen Botanicals.
