![]() ![]() Addressing racial inequity in the beauty industry is a $2.6 billion opportunity.Yet today, the median revenue of those Black brands is 89 times higher than what non-Black beauty brands return over the same period. Black brands in the beauty industry raise a median of $13 million in venture capital, substantially less than the $20 million that non-Black brands raise.From entry-level to the C-suite and from retailers to beauty houses, only 4 to 5 percent of all employees in the US beauty industry are Black.However, only 4 to 7 percent of beauty brands carried by specialty beauty stores, drugstores, grocery stores, and department stores are Black brands. Black consumers show an affinity and preference for Black beauty brands and are 2.2 times as likely to conclude that products from those brands will work for them.Black consumers are three times more likely to be dissatisfied than non-Black consumers with their options for hair care, skin care, and makeup.Yet Black consumers are responsible for 11.1 percent of total beauty spending. Black brands make up only 2.5 percent of revenue in the beauty industry.Our analysis shows that Black people’s experience within the beauty industry is markedly more frustrating than that of other people and filled with multiple friction points that non-Black consumers, entrepreneurs, and brands are less likely to face (see sidebar “Black beauty at a glance”).īlack people’s experience within the beauty industry is markedly more frustrating than that of non-Black people and filled with multiple friction points: Yet, despite significant spending by the Black community, the prospect of equity in the beauty industry, like in so many other industries, has been elusive. That’s 11.1 percent of the total US beauty market, lagging slightly behind the 12.4 percent Black representation in the total US population. In 2021, they spent $6.6 billion on beauty. Likewise, spending on beauty is robust among Black Americans, a diverse and growing group of 41 million people with increasing spending power. Last year alone, the US beauty industry was worth $60 billion, and with a compound annual growth rate (CAGR) of 5 percent, it’s expected to reach $73 billion by 2025. Over the past decade, Americans have spent more than $500 billion on beauty products. ![]() She spent five days mopping and cleaning toilets as part of a community service sentence in New York last year after throwing a mobile phone at her housekeeper during an argument over a pair of jeans.Beauty also happens to be a very lucrative business. Last month, she pleaded guilty to assault in an expletive-filled “air rage” incident in London and was sentenced to serve 200 hours of community service. North American acts Jay-Z, Rihanna and Usher were the only ones to perform for the thousands of fans, some of whom paid as much as 60,000 naira ($508) to attend, a fortune in a country where nine out of 10 people live on less than $2 a day.Ĭampbell’s career has been overshadowed recently by her troubles with the law. The festival, sponsored by Nigerian newspaper This Day, will make stops in Washington next month and London in October and aims to showcase Africa’s best music and fashion.īut the opening in Nigeria’s capital Abuja started five hours later and Campbell, along with the fashion show and all of the local African music acts, was left out of the show. ![]() “Now at Paris Haute Couture there was only one black girl out of all the shows. ![]() It happens to be last year New York was the worst,” the British bombshell said, wearing a simple white short-sleeved top and blue jeans. “I don’t do so many shows anymore, but I do count how many girls of color they use in the shows. And this is one of the reasons I still do what I do,” she told Reuters in a weekend interview in Nigeria.Ĭampbell, who as a teenager was the first black model to grace the covers of the French and British editions of Vogue magazine, said many fashion designers still favored fair-skinned models over their dark-skinned counterparts. “I’m very grateful for my career, but I worry for the girls after me for the opportunities they get - the way they get treated. While many of her colleagues of the late 1980s - like Cindy Crawford and Christy Turlington - have moved on from the runways, the 38-year-old icon continues to turn heads at the world’s top fashion shows. British top model Naomi Campbell smiles as she poses during an event to publicise 'Thisday's Music and Fashion Festival' at the Royal Albert Hall in London June 25, 2008. ![]()
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