Let’s talk about beauty: two new releases and the business behind them.
First, let’s take a closer look at the new products that are creating a buzz. Because beauty is big business, and profits have skyrocketed globally over the past decade. A key segment driving this growth is African American consumers. With a population of 41 million, these customers contributed $6.6 billion to the beauty industry in 2021. However, despite its great economic power, many customers continue to express dissatisfaction with how their needs are consistently ignored by mainstream brands.
In the ever-evolving world of beauty, two standout products are setting new trends with their innovative formulas, comprehensive shades, and multifunctional benefits. Here, we take a closer look at some of the latest releases that are redefining your beauty routine.
Milk Makeup Hydro Grip + Glow Primer: A skincare powerhouse
Milk Makeup’s Hydro Grip + Glow Primer provides up to 12 hours of makeup longevity and adds a radiant glow. Contains skin care ingredients such as blue agave extract, hyaluronic acid, niacinamide, aloe water, and hemp seed extract to ensure makeup adheres firmly without stickiness and maintains moisture and brightness.
Fenty Beauty: Always ahead of the game
Rihanna’s Fenty Beauty continues to innovate. Traced Out Pencil Lip Liner comes in a wide range of shades to match any look, while Gloss Bomb Stix delivers a hydrated, glowy finish with ingredients like squalane and vitamin E. Introducing a compact version of Fenty Eau de Parfum. Balm format convenient for travel.
beauty business
As the industry continues to grow, many investment and entrepreneurial opportunities are emerging in the makeup, hair, and fragrance space. With the beauty market expected to reach $73 billion by 2025, now is a promising time to enter.
This fast-growing industry has huge potential. To take advantage of these opportunities, research, network, and seek guidance from experts. If this is not to your liking, please share the information with someone who may benefit. Together, we can shape the future of beauty while building wealth in our communities.
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Bank of America Capital Access Connector
Bank of America has partnered with Community Reinvestment Fund, a national nonprofit CDFI, to help small business owners access capital through loans ranging from $10,000 to $1 million, as well as coaching and support services. There is.
Deadline: Ongoing
Apply at accesstocapitalconnector.com
Wish Local Empowerment Grant
U.S.-based, brick-and-mortar, Black-owned businesses can apply for small grants ranging from $500 to $2,000. Eligible businesses must have 20 or fewer employees and average annual revenue of less than $1 million.
Deadline: Ongoing
Apply at wish.com
ZenBusiness $5,000 Grant Program
The ZenBusiness 2024 Small Business Grant Program will award $5,000 grants to up to 40 small businesses. Each business includes 30 days of access to the Growth Center (including live coaching and website tools) and 30 days of access to ZenBusiness Money Pro (for customer management). Manage your cash flow and taxes in one place), your first month of ZenBusiness Banking is free (helps you separate your business and personal finances).
To be eligible, small businesses must have used ZenBusiness Formation Services within the past 3-6 months.
Deadline: December 31, 2024
Apply at zenbusiness.com
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