When it comes to diversity and inclusion in the beauty industry, P&G Beauty and Fairchild Media Group are doing their part to make sure that it’s a top priority.
This week, the two companies joined forces to announce the launch of a new entrepreneurial-focused project called the Fairchild Founders Fund: Diversity Equity and Inclusion (DEI), which will help find the next generation of companies who are making a meaningful difference in DE&I. This new fund, which is part of the 2022 FMG Virtual Diversity Forum taking place on March 23, is available to start-up and entrepreneurial brands, agencies, retailers, and suppliers in fashion apparel, footwear, beauty, and wellness.
While all are welcome to apply, ideal applicants and brands will have an existing DE&I program in place, with a founder who is of a diverse race, gender, ethnicity, age, sexual orientation, nationality, socioeconimic stats, or disability.
“It’s vital that our events and the conversations we are having around DE&I include action, and that’s exactly what makes this program both especially meaningful and important,” said Amanda Smith, Fairchild Media Group President. “We’re proud to be partnering with P&G Beauty, a global leader of industry who has consistently upheld its commitment to supporting equality and inclusivity for their consumers, business partners and the industry overall. We are excited to see the ideas and innovations that this program helps spotlight and look forward to the opportunities it presents.”
Fairchild’s Founder Fund aligns perfectly with P&G Responsible Beauty, which is the company’s commitment to being a positive force for beauty and business in the world. When it comes to beauty, P&G Responsible Beauty takes a systems-thinking approach that recognizes the connections and interdependence of five essential principles — Quality & Performance, Safety, Sustainability, Transparency, and Equality & Inclusion.
“P&G Beauty is committed to enabling equity and inclusivity for all: the more we can raise each other up, the more we will all rise together,” said Kelly Vanasse, Chief Communications Officer, P&G Beauty. “We’re excited about the opportunities for growth we can enable through our partnership with Fairchild’s Founders Fund.”
The Founder Fund’s selection process will include a review of applicants from a council of industry leaders, including executives from P&G Beauty, WWD, and Beauty Inc. Three finalists will be selected and then invited to pitch their business to attendees and a council of executives chosen specifically to determine the winner at the Virtual Diversity Forum held on March 23. After the event, a winner will be selected and they will not only receive a stipend, but also business mentorship from P&G Beauty and be featured as part of Fairchild’s Content Studio.
The application for the Founder Fund is now live at https://www.research.net/r/Foundersfund. So, if you’re a company that is founded by someone from a diverse background and proactively leading on DE&I initiatives in the start-up stage, be sure to apply. The application window is open now until March 7, 2022, and then winners will be notified before March 23, 2022.
For more information about Fairchild’s Founder Fund, be sure to visit the fund’s website here.
