Ulta Beauty to Invest $50 Million on Diversity, Equity and Inclusion Efforts

The retailer has committed to allocating $25 million to working with multicultural media platforms, launching a BIPOC brand-focused accelerator program, investing $5 million in New Voices, a venture fund that invests in entrepreneurs of colour, putting $3.5 million to revamping in-store merchandising support so that diverse brands are easier to find, and dedicating $8.5 million toward marketing for Ulta’s offering of Black-owned, founded and led brands. The company said it would also diversity recruitment efforts and create internal programming for employees.

“Our forward-looking 2022 DE&I commitments ensure that we remain energised, creative and extremely dedicated to leading in this critical space,” Ulta Beauty chief executive Dave Kimbell said in a statement.

The retailer’s 2022 commitments double the size of the investment it made in 2021. Last year, Ulta named American actress Tracee Ellis Ross diversity and inclusion advisor, joined the Fifteen Percent Pledge and doubled the number of Black-owned brands it sells.

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