THE WHAT? Sephora has announced the re-launch of its Accelerator Incubator program, which will this year focus exclusively on BIPOC founders.
THE DETAILS Now in its sixth year, the 2021 cohort will focus only on founders of color, who will get access to the program’s ‘robust curriculum, mentorship, merchandising support, potential funding, and investor connections to participants.’
Eight brands will virtually take part in orientation, bootcamp, presentation planning, and the pitch day and graduation, with industry experts such as Briogeo Founder Nancy Twine and Vicky Tsai from Tatcha acting as advisors.
Brands on the program are 54 Thrones, EADEM, Glory, Hyper Skin, Imania Beauty, Kulfi Beauty, ries, and Topicals.
According to a press release, “Upon completion of the program, all participating brands will launch at Sephora, putting the prestige omni-retailer on track to double its assortment of Black-owned brands by the end of 2021.”
THE WHY? Sephora is looking to bolster its commitment to BIPOC representation in prestige beauty and in its stores and e-tail with the new focus.
Artemis Patrick, Sephora’s Executive Vice President and Global Chief Merchandising Officer, said, “The goal of this program has long been to provide meaningful, ongoing support for growing brands, and that is exactly what we’re aiming to deliver to our 2021 Accelerate cohort. Each of the eight participating founders is inspiring in their own right, and we believe wholeheartedly in their potential at Sephora; we are so excited to help shape their futures and to ultimately introduce these brands to our clients.”