Glossier Announces Its 2023 Grant Program for Black-Owned Businesses

Glossier aims to continue to invest in diversity, equity, and inclusion in beauty—and applications are open now for the brand's Grant Program for Black-Owned Beauty Businesses.

Six visionary businesses in the U.S. will benefit from Glossier's $300,000 donation and mentorship provided by its team members.

Glossier's Grant Program will provide financial support by way of grant money, access to Glossier's expertise in areas relevant for the specific grantee such as supply chain or product development, and exclusive access to the brand's network of industry contacts.

Glossier began the program in 2020, and has since then partnered with 30+ founders leading 26 innovative beauty brands. Alumni include Range Beauty, Young King, Luna Magic, Skimdo, Golde, and Eadem.

There is a need for the beauty industry to help invest in Black-owned businesses because Black founders raised only 1% of all venture capital funding in 2022. That's a decrease from the 1.3 percent raised in 2021. 

The numbers are not in line with the fact that Black consumers spend over $6.6 billion on beauty annually, Glossier reports, making up over 11 percent of the U.S. beauty market. This means that Black-owned brands only capture 2.4 percent of revenue in the overall beauty market.

Here are all the details about applying to Glossier's Grant Program. The application window is open now through April 11th at 12 a.m. EDT. Applicants will be notified in June 2023.

More Grant Initiatives for Black-Owned Businesses

Flawless by Gabrielle Union, a haircare brand crafted to celebrate versatile hair types, textures, and styles, also recently announced its inaugural grant initiative for Black, female-owned businesses.