JCPenney and Rare Beauty Brands have created the Lift Beauty Accelerator, a brand incubation initiative aimed at beauty brand founders from underrepresented backgrounds. The program will award $10,000 grants, retail distribution and mentorship with retail executives to five early-stage beauty brands founded by Black and Brown female-identifying leaders. Applications are open through July 18, 2024, and applicant businesses must have moved past the ideation phase and have a fully developed product or service to offer.
Accelerator sponsors include the Black Beauty Collective (BBC) and Black Girl Ventures (BGV). Winners also will receive a one-year membership in the BBC and placement in its Chicago and Los Angeles storefronts. Mentoring will be focused on real-time needs rather than an established curriculum, allowing guidance to be personalized for each winner, and they also can draw on the knowledge of a cross-functional team of industry experts from Rare Beauty Brands and its partners.
“At Rare Beauty Brands, we are deeply passionate about the transformative power of entrepreneurship and have been privileged to host incubator programs over the past three years,” said Chris Hobson, CEO of Rare Beauty Brands in a statement. “Working closely with past winners has been an incredible experience, and we are eagerly anticipating this year’s applicants. We are honored to collaborate with JCPenney and other amazing partners in our mission to uplift underrepresented founders in the beauty industry.”
Following the 2021 dissolution of its partnership with Sephora, JCPenney began creating its own beauty experience. More recently, the retailer undertook a $1 billion turnaround plan in September 2023, and in April 2024 revamped its loyalty program to double the rate at which members earn rewards.
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In March 2023 Sephora and TikTok partnered to provide diverse beauty brands with content creation guidance.
