The Sephora Beauty Grant
Enter for your chance to win $100,000 to grow your beauty business!
We are back with the second annual Sephora Beauty Grant, awarding one Black business owner within the beauty industry a $100,000 grant to unlock the next level of growth and potential for your brand! We encourage you to check the eligibility requirements below and apply if your business meets these criteria.
Congratulations to last year's winner, Malaika Jones of BROWN GIRL Jane!
Black business is on a growth trajectory. Currently, there are more than 2 million Black-owned small businesses in this country, and since the pandemic, the number of new Black business owners rose 38%. However, Black entrepreneurs continue to face systemic barriers when it comes to accessing funding to grow their businesses. At the end of 2022, Black startup founders received just $264 million of $33.6 billion in venture capital allocation - less than 1%.
These barriers extend into our banking systems, where 57% of Black business owners are denied a bank loan during the formation of their business.
For more than three years, the Fifteen Percent Pledge has been working alongside major corporations to re-evaluate their organizational structures, funding streams, and supply chains, in order to create new economic opportunities and greater equity for Black businesses.
To date, more than 30 companies have partnered with the Pledge, helping create the potential to shift more than $14 billion to Black businesses. The first company to sign the Pledge and join us on this journey was Sephora. We’re so grateful for what we’ve accomplished together these past three years to move toward closing the racial wealth gap.
We’ve seen immense growth in Black representation in the beauty industry. With leaders like Sephora, the beauty industry at large has made great strides in making and stocking more inclusive products and centering Black consumers, as well as increasing supplier diversity and supporting the Black brands that occupy shelf space at major retailers.
If you are a beauty brand that meets all requirements below, we hope you will apply for your chance to win a life-changing $100,000 grant for your business.
Eligibility Requirements
- Member of the Fifteen Percent Pledge's Business Equity Community, brands MUST sign up and submit full business details to enter the award application portal.
- Business sells a product and has annual revenue of at least $100K or more
- Black-owned: At least one self-identifying Black person with 50% or more equity in the company
- Must have been in business for at least 1 year
- Businesses must sell a CPG product:
- Must sell a product in at least one of the following categories: Beauty, Haircare, Makeup / Makeup tools, Skincare, Fragrance, Bath & Body
Application Process + Timeline
Applicants must first create, update, or complete their business profile in our Business Equity Community in order to access award application questions. The application will be open for four weeks. Our winner will be awarded at the 2025 Fifteen Percent Pledge Gala in Los Angeles. Before you get started on the application, we recommend reviewing a resource document we created for you to submit your strongest application: Application tips and resources.
October 15
Application opens
Application opens
November 15
Application closes
Application closes
Early January
Finalists notified
Finalists notified
February 1
Winner is announced at the Pledge’s annual gala
Winner is announced at the Pledge’s annual gala
See FAQs for more information. Got additional questions? Email brands@15pp.org
About the Fifteen Percent Pledge
The Fifteen Percent Pledge is a racial equity and economic justice non-profit organization addressing the inequities that exist throughout the American consumer economy and working towards closing the racial wealth gap. In recognition that Black people in the U.S. compromise nearly 15% of the population, the Fifteen Percent Pledge calls on major retailers and corporations to commit a minimum of 15% of their shelf space, sales revenue, and annual spend to support Black-owned businesses. In 2022, the Pledge was the recipient of Fast Company's Most Innovative Company of the Year Award.
Donations
Are you are a founder, venture capitalist, corporate employee, or other leader who wants to invest or contribute to funding a grant for a Black business owner?
Individuals can also donate here to support the Pledge's general operations and long-term organizational growth.