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Non-profit organization is asking for CEOs to sign its “pledge for equity.”
October 2, 2024
By: Christine Esposito
Editor-in-Chief
Latinas in Beauty, an organization dedicated to cultivating equity and increasing representation of Latina-owned brands and professionals, has launched as a non-profit organization. The group, which was initially founded in 2020, has also embarked on its Pledge for Equity initiative—calling on industry CEOs to sign its petition supporting the advancement of Latinas in the beauty industry.
The 30 million-plus Latinas in the US drive a significant portion of estimated $3.78 trillion in purchasing power of US Latinos—and they spend an average of 19% more on beauty than total US consumers.
However, this group still lacks cultural representation and access to financial opportunities. Only 1% of c-suite executives and 1.5% of senior executives are Latina. What’s more, Latina entrepreneurs typically receive less than 1% in venture capital funding, according to the organization.
By providing resources, networking, and mentorship, Latinas in Beauty aims to empower Latina beauty professionals and entrepreneurs to achieve their professional and entrepreneurial goals.
“Emerging Latina-founded beauty brands and professionals are uniquely poised to meet the diverse needs of our community, enhancing the allure of our culture, beauty, and traditions,” said Emily Perez, who is president and executive director of Latinas in Beauty. “We need to harness our collective power and champion these emerging brands and professionals, to turn the Latina beauty cohort into an economic and cultural triumph for all.”
Co-founders include Margarita Arriagada and Nadine Tapia.
Arriagada, who founded Valdé Beauty in 2020, is a former chief merchandising officer at Sephora. Tapina, founder and president of Tapia Beauty Group, was the previous president and CEO, and only investor of Ole Henriksen prior to its acquisition by LVMH. She also owns Pursuit Beauty, a sun and skincare brand for an active lifestyle.
The organization will offer programs specifically tailored for beauty professionals and entrepreneurs, including:
• Beauty Professional Program: Supports the professional growth of Latina beauty professionals through various resources, mentorship opportunities, and networking events
• Entrepreneur Program: Provides tools and resources for entrepreneurs to build and scale their beauty businesses including a beauty brand directory of Latina-owned brands, a toolkit for entrepreneurs with lists of accelerator programs, trade shows, and beauty awards, and directories of investor and business contacts (e.g. manufacturers, suppliers, marketing + PR agencies).
• Beauty Brand Incubator + Accelerator: Offers Latina entrepreneurs a 12-week Beauty Business Overview Certificate Program, business audit, and 1:1 mentorship and coaching sessions, in partnership with a leading university
• Latinas in Beauty Summit: Annual event celebrates the achievements of Latinas in beauty and unites industry professionals, entrepreneurs, and thought leaders for a day filled with educational experiences, networking opportunities, and inspiration
Major brands/retailers including Ulta Beauty and Rare Beauty have already pledged support, along with Latina beauty trailblazers Tata Harper (founder and CEO of Tata Harper Skincare); Kimberly Villatoro (CEO, Patrick Ta Beauty); Lucia Perdomo-Ruehlemann (president, Saie Beauty); Julissa Prado (founder and CEO, Rizos Curls); Babba Rivera, founder and CEO of Ceremonia); Shaira Frías (Founder and CEO, Luna Magic Beauty) and Irene Montoya Scharmack (CEO of QuickBox), among others.
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