The LIFT Beauty Accelerator is an initiative spearheaded by Rare Beauty Brands in collaboration with JCPenney, and backed by essential sponsors like the Black Beauty Collective (BBC) and Black Girl Ventures (BGV). It aims to amplify the voices and businesses of female-identifying beauty brand founders from underrepresented backgrounds. This initiative aligns with Rare Beauty Brands' commitment to developing and scaling brands that inspire and create positive impacts across the beauty industry.
LIFT Program Details
Introduced in 2024, the LIFT Beauty Accelerator is designed to support five early-stage beauty brands. Each selected brand will be awarded non-dilutive funding of at least $10,000. In addition to this financial support, winners are granted the opportunity to pitch their products for potential in-store or online distribution through JCPenney, one of America's iconic retail brands known for inclusivity. Moreover, these brands will benefit from a one-year Black Beauty Collective membership and placement in Chicago and Los Angeles storefronts, providing significant retail visibility.
Mentorship from industry experts
Mentorship is a core component of the initiative. The program offers practical mentorship that addresses real-time needs rather than following a fixed curriculum. It involves a cross-functional team of industry experts from Rare Beauty Brands and their partners, ensuring personalized guidance tailored to each brand's requirements. Furthermore, the winners will gain access to in-kind services, including claims support testing, product testing and validation, product registration assistance, retail support software, and a one-year membership in the Independent Beauty Association.
Eligibility Criteria
To qualify for the LIFT Beauty Accelerator, applicants must meet the following criteria:
- The founder must identify as Black or Brown and female.
- The beauty brand should have an annual revenue between $10,000 and $1 million.
- The business must be beyond the ideation phase, possessing a fully developed product or service that is either ready for customers or already has a customer base.
- The company must be based in the United States and operate within the beauty and personal care industry. This includes sectors such as skincare, hair care, color cosmetics, nail care, fragrance, bath and body care, tools and accessories, and wellness.
Application Process
Applications for the LIFT Beauty Accelerator opened on June 3, 2024, and the deadline is July 18, 2024, at 5 p.m. ET. The winners will be announced in late September 2024, providing an exciting opportunity for emerging brands to gain substantial support and visibility. Here is the LIFT Beauty Accelerator form to apply.
For those interested, further details and entry criteria can be found at Rare Beauty Brands. The initiative underscores the ongoing effort to promote diversity and empower underrepresented entrepreneurs within the beauty sector.
