25 Black Women in Beauty celebrated its official launch with a private dinner this week. Created by beauty industry executives Cara Sabin and Ella Gorgla, the association aims to celebrate, elevate and promote Black women in the beauty industry through collaboration, networking and mutual inspiration.

“We all know that women of color represent a huge financial opportunity for the beauty industry,” said 25 Black Women in Beauty co-founder, Cara Sabin. “Ultimately, to truly connect with her, it’s imperative our influence as executives, innovators and creators is further amplified. Representation matters and it needs to be visible.” Women of color are projected to be the majority of all women in the workforce by 2016 and Black women spend 80 percent more on cosmetics and twice as much on skin care compared to non-Black consumers, according to an Essence study.