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Dive Brief:
- Ulta Beauty last month shared its lineup of eight early-stage brands making up this year’s Muse Accelerator cohort. The brand founders will undergo a 10-week program and receive mentorship throughout, as well as financial support.
- This year’s Muse cohort consists of: Apostle, a men’s cosmetics brand co-founded by Jamie Melbourne and Tony Lecy-Siewert; Audaja, a skin care brand founded by Audrey Ajakaye; Byroe, a skin care brand founded by Amy Roe; Femigist, a feminine care brand founded by Amara Onwukaeme; Luna Nectar, a hair care brand founded by Mia Fiona Kut; Ocoa, a curly hair care brand founded by Nicol Varona Cancelmo and Cory Varona; Queen Cosmetics, a beauty brand founded by Elimar Depaula; and RedDrop, a first-time menstrual brand founded by Dana Roberts, Jarrod Shaw and Dr. Monica Williams.
- This year, Ulta and the Fifteen Percent Pledge will give one brand an additional $10,000 in addition to the $50,000 given to each brand in the program. The Fifteen Percent Pledge asks retailers to dedicate 15% of their shelf space to Black-owned brands. Ulta Beauty first signed the pledge in 2021.
Dive Insight:
The Muse accelerator is part of Ulta’s ongoing mission to “magnify, uplift, support and empower” underrepresented communities in the beauty industry and curate an inclusive assortment on its shelves.
Similar to last year’s programming, the cohort will participate in sessions on brand strategy and positioning, supply chain and logistics and the omnichannel retail environment, all leading up to a demo week and celebration. There, the brand owners will have an opportunity to pitch their businesses to Ulta Beauty retail merchants and network with investors.
“As retail leaders and brand builders, we seek to create space and opportunities for all brands to thrive in our industry and nurture an inclusive assortment that reflects the beautifully diverse community we serve,” Monica Arnaudo, chief merchandising officer at Ulta Beauty, said in a statement. “We’re focused on brand amplification, assortment growth and creating equitable guest and associate experiences so everyone can see themselves reflected in what we offer.”
Leaders from Ulta, as well as Meta, TikTok, Beauty Independent, Métier Creative, True Beauty Ventures, Power Digital and Pitts Leadership Consulting will all serve as mentors for the cohort, “a critical element for nurturing brand development and long-term success,” per the retailer.
Additionally, cohort participants will be mentored by a class of industry leaders with successful brand launches. This year’s Muse Accelerator mentors include: Aliyah and Marco Marandiz of Sugardoh, Cassandra Thurswell of Kitsch, Tony Prado of Rizos Curls, Priscilla Tsai of Cocokind, Lillian Tung of Fur and others.
Many retailers and brands have incorporated accelerator programs as a means to reach underrepresented communities and diversify their product lineup. In May, Macy’s announced its class of 26 entrepreneurs participating in “The Workshop at Macy’s,” an educational program that also provides funding. In June, TikTok announced two separate accelerators that would fund and mentor 15 women-owned businesses and 30 LGBTQIA+-owned businesses, respectively, in the U.S. In September, Sephora announced open applications for its 2025 accelerator incubator program.
via https://www.aiupnow.com
Xanayra Marin-Lopez, Khareem Sudlow
