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Gloss Angeles

Why Black-Founded Brands are "Quietly Closing" in 2024 with Oui the People Founder Karen Young

Gloss Angeles

Kirbie Johnson and Sara Tan

Charlotte Palermino, Halsey, Sara Tan, Kirbie Johnson, Rihanna, Beauty Podcast, Arts, News, Entertainment News, Selena Gomez, Hailey Bieber, Fashion & Beauty, Beauty

4.8679 Ratings

🗓️ 9 August 2024

⏱️ 36 minutes

🧾️ Download transcript

Summary

Your favorite Black-owned brand may quietly close this year — that's what Oui the People founder Karen Young shared with her followers a few weeks ago. In 2020, the beauty industry underwent a revolution of sorts. Black-owned brands became a much-needed albeit long overdue priority. Movements like Pull Up For Change encouraged brands to share what percentage of their business employed Black workers, and many brands whose focus specifically highlighted Black skin were launched, supported and celebrated.


However, in the last year, we’ve seen a wave of hurdles coming for Black-owned businesses and DEI initiatives. We’re seeing it in other industries as well: top Chief Diversity Officers at top entertainment companies were said to be “leaving their jobs” last year in a Wall Street Journal story titled “The Rise and Fall of the Chief Diversity Officer.” It was recently reported that thirteen lune, a retailer that highlights minority-owned brands, owed thousands of dollars to brands under its umbrella and their partner JC Penney was restructuring the partnership as a result. And the Fearless Fund, the Black women-owned venture capital firm backing early-stage businesses owned by women of color, including the beauty and wellness brands like Brown Girl Jane, Live Tinted, Bread Beauty Supply and more was indefinitely barred from deploying a program last year that doles out $20,000 grants to Black female entrepreneurs. 


Karen joins us to share what Black founders are up against and what we can do to help support some of our favorite brands.


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Transcript

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0:00.0

Glam, Los Angeles.

0:05.5

Hi, Kirby.

0:07.1

Hi, Sarah.

0:08.5

Welcome to Los Angeles.

0:20.2

In 2020, the beauty industry underwent a revolution of sorts. Black-owned brands became a much-needed, albeit long-overdue priority.

0:29.4

Movements like Pull Up for Change encouraged brands to share what percentage of their business,

0:33.5

employed black workers, and many brands whose focus was specifically on highlighting black skin

0:38.2

were launched, supported, and celebrated. However, in the last year, we have seen a wave of hurdles

0:43.5

coming for black-owned businesses and DEI initiatives. We're seeing it in other industries as well.

0:48.5

Top chief diversity officers at entertainment companies were said to be leaving their jobs, quote unquote, last year

0:55.8

in a Wall Street Journal story titled The Rise and Fall of the Chief Diversity Officer.

1:00.3

It was recently reported that 13 Loon, a retailer that highlights minority-owned brands,

1:04.9

owes thousands of dollars to brands under its umbrella and their partner, J.C. Penny,

1:09.0

was restructuring the partnership as a result.

1:11.4

And the Fearless Fund, the black women-owned venture capital firm backing early-stage businesses

1:16.3

owned by women of color, including the beauty and wellness brands like Brown Girl Jane,

1:21.6

live-tinted, bread beauty supply, and more, was indefinitely barred from deploying a program last year that doles out

1:28.7

$20,000 of grants to black female entrepreneurs. So what is happening and what can we do about it?

1:35.5

Today we have We the People founder Karen Young, who recently shared a video suggesting your

1:40.7

favorite black-owned beauty brands may shut down this year if things don't change.

1:45.6

Karen, we are so thrilled to have you on the podcast so that we can really dive into this topic.

1:51.0

But before we get into the meat of it, we want to know what is on your face or on your body or on

...

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