Press release content from Business Wire. The AP news staff was not involved in its creation.
Macy’s Honors Black History and The Brilliant Legacies Of Black Creatives
February 1, 2021 GMT
NEW YORK (BUSINESS WIRE) Feb 1, 2021
In honor of Black history, Macy’s (NYSE:M) will highlight Black creatives and Black-owned brands and introduce a round-up campaign in stores and online at macys.com in support of Black Girls CODE and UNCF.
ADVERTISEMENT
Macy’s intensifies efforts to advance diverse talent with a series of initiatives that recognize and amplify Black-owned businesses, creators and changemakers; Camilla Rose, Curlmaker, $22 (Photo: Business Wire)
Black beauty business has all eyes on its market due to the monetized value our community brings in. Last year, we saw a well-needed boost of support from Black-owned brands and this summer IPSY – the largest beauty subscription service, made a commitment that the brand would invest $5M into the development and amplification of Black-owned beauty brands within the next year. “
Black-founded brands face a uniquely difficult challenge,” Marcelo Camberos, CEO of IPSY andBFA (Beauty For All) Industries tells ESSENCE. “It’s no secret that Black-owned brands have long-faced systemic racism. Black founders receive half the bank financing of their Caucasian counterparts and just 1% of venture capital funding. As an entrepreneur, I recognize and acknowledge that we would not have a thriving business had I never received the funding to build and grow it.”