Cosmoprof North America’s (CPNA) is introducing a series of new initiatives which will include a partnership with Ready to Beauty, a global think tank for multicultural entrepreneurs and brands.
CPNA and Ready to Beauty are announcing the formation of a soon-to-launch national #BankBlack banking and finance program to specifically support niche and emerging Black/African American beauty entrepreneurs and brands.
Set to debut in the Fall of 2021, this nationwide initiative is designed to work in tandem with Ready to Beauty's capital growth fund, Ready to Invest, which addresses the three major pain points facing multicultural entrepreneurs and brands today:
purchase order financing
direct equity investment
Ready to Beauty's founder and managing director, Corey Huggins, will also curate Cosmoprof's sixth edition of the Tones of Beauty showcase which will be held August 29 to 31, 2021.
This year’s Tones of Beauty theme rallies around economic recompense and along with other beauty platforms, as well as academic, market research, and financial service organizations.
Ready to Beauty and CPNA have also fielded a data collection and opinion study focused on the business of multicultural beauty entitled Readiness is the New Green: An Economic Data Study on the Business of Multicultural Beauty in America.
The result is a snapshot of the Black/African American beauty sector, allowing for a better economic understanding of the challenges and opportunities, and sketching out a pathway for what should be the next steps in terms of financial actions and reforms for economic equity within the beauty industry.
Liza Rapay, head of marketing at Cosmoprof North America, shares, “Our team at Cosmoprof North America is dedicated to understanding the issues of diversity, inclusion and their cultural impact on economics within the beauty industry. We are thrilled to partner with Ready to Beauty on a series of initiatives that will help the beauty industry become more inclusive, diverse and economically equitable.”
Huggins shares, “From curating and hosting the Tones of Beauty showcase for Cosmoprof North America, I knew in regular order Black/African American brands were characteristically economically sensitive. Moreover, I know real economic change can only be achieved on a base of real economic data. Consequently, I decided to draw that baseline in the sand, and have my think tank field the foundational economic research for multicultural beauty with Cosmoprof North America as the national strategic partner.”