Fifteen Percent Pledge is a nonprofit dedicated to encouraging retailers to commit to having at least 15 percent of their shelf spaces occupied by Black-owned businesses. The nonprofit just partnered with a global beauty product retailer to further advocate for helping Black businesses grow.
Priya Venkatesh, Global Chief Merchandising Officer at Sephora, stated: “We’re excited to see the beauty industry experiencing massive growth in expanding opportunities and client exposure to Black-owned brands, and we hope that this grant will help to further propel the next generation of Black beauty owners.”
There are multiple requirements to be eligible to apply for this grant opportunity, including having a business that sells a beauty product and has an annual revenue of at least $100,000. The business also has to have at least one self-identifying Black person with 50 of more percent equity in the company.