L’Oréal USA Launches 2024 Inclusive Beauty Fund

L’Oréal USA announced the launch of its 2024 Inclusive Beauty Fund, which provides financial support and resources to small businesses and entrepreneurs across the beauty industry. Administered in collaboration with the NAACP’s Economic Empowerment Fund and Hispanic Federation, respectively, L’Oréal has partnered with GlobalGiving to provide 40 one-time grants to small businesses and entrepreneurs in the beauty industry across the U.S.

In 2021, recognizing that beauty businesses were some of the most acutely impacted by the economic fallout of COVID-19 and resulting shutdowns, L’Oréal USA partnered with the NAACP to provide much needed support in terms of funding and business mentoring to 33 small beauty businesses. Grant recipients used the funds to grow their inventory, refine marketing strategies, and open new retail locations.

“The grant provided by L’Oréal USA and NAACP came at the perfect time for us. It truly provided us with the fuel to invest in inventory, as well as marketing. The resources were really the linchpin for us. As a business it provided us with a gateway to connect with salon owners and stylists in a whole new way.”

— LaToya Stirrup, Co-Founder/CEO Kazmaleje, a recipient of an Inclusive Beauty Fund grant in 2021

In 2024, L’Oréal USA is expanding the program to include NGO partner Hispanic Federation and grant administrator GlobalGiving, amplifying the reach and impact of the program. In addition to one-time funding, the company is committed to providing grantees with professional mentorship and business development support with the participation of top executives from its leading beauty brands and its professional beauty products distributor, SalonCentric.

“The Inclusive Beauty Fund is one of the cornerstones of L’Oréal’s broader commitment to advancing inclusivity within the beauty industry,” said Liliahn Majeed, chief diversity, equity & inclusion officer, North America, L’Oréal Groupe. “We value the role small businesses play in bringing vital products and services to consumers across all backgrounds and lived experiences and we want to do our part to support beauty businesses and entrepreneurs who are working to navigate economic challenges.”

Beauty businesses, extensions artists, braiders, estheticians, barbers, salon owners, suite owners, students, and stylists nationwide are invited to apply for the Inclusive Beauty Fund.  

How To Apply

Applications for the Inclusive Beauty Fund will be administered by the NAACP and Hispanic Federation, respectively. The NAACP and Hispanic Federation will each award 20 one-time grants of $10,000 each and applications opened on February 20th. All submissions must be conducted through either the NAACP or Hispanic Federation’s websites. The candidates selected to receive the grants will be announced in April, 2024.

• To apply via the NAACP, please visit app.helloalice.com.

• To apply via Hispanic Federation, please visit www.hispanicfederation.org.