BLACK BEAUTY : A TRILLION DOLLAR INDUSTRY
Ludny Jules • February 25, 2022
BLACK BEAUTY
A TRILLION DOLLAR INDUSTRY
What an amazing Black History Month that is coming to an end! To be honest, I have just recently started celebrating Black History Month starting, maybe 3 years ago. I don't think I even really knew the importance of this month. Of course, I heard about it, but it did not fully resonate with me.
When the movement Black Lives Matter exploded after the passing of George Floyd, I felt ashamed that I did not know or question myself about my roots, my African heritage and being black in general.
That year I promised to educate myself and people around me about diversity, black history, and openness. I strive to use my voice and platform to inspire and help black female entrepreneurs in the beauty industry by teaching them Branding, Marketing and Business strategies. I want to be an example of black excellence and success for my community and beyond.
Eurocentric standards have dominated the beauty industry.
Up until recently, black cosmetics consisted of skin lighteners and skin bleach and limited shade ranges.
Black consumers are eager for better-suited services and products. Over the past decade, they have progressively switched from available products to those that specifically cater to them.
From hair care, cosmetics, and skincare to health services, black consumers show that they want a more customized and personalized service in every sphere, not only beauty.
Rihanna
I consider Rihanna as a black woman who changed the beauty industry for good.
She stepped into the beauty business to erase the exclusion, releasing a foundation brand with 40 different shade ranges, from the palest white to the darkest brown.
Fenty
In the first year of business, Fenty was the biggest beauty brand launched in YouTube history.
Fenty used "the show don't tell method" : This strategy is about showing your work and its benefits rather than focusing the advertising too much on the brand. For example, Fenty never used the world inclusive in their advertising process. They instead worked behind the scenes to make their brand inclusive and then were able to release an amazing collection to the world.
Rihanna is now a Billionaire.
In 2021, Rihanna became a BILLIONAIRE thanks in great part to her inclusive beauty line. She has shown the world that inclusivity CAN PAY OFF. Many companies who made excuses in the past are now starting to lose money. Consumer voices and needs are the foundation of company success and the companies that are not aligning/shifting their strategy are losing Big Bucks!
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