Black consumers make up 11.1% of total spending toward beauty products and shell out $6.6 billion in the sector, but Black-founded brands only own 2.5% of the industry’s revenue market share.
Danika Berry wants everyone to know about this disparity.
The publicist and founder of wellness-based body care brand Glam Body launched National Black Beauty Founders Day (Aug 30), an initiative aimed at raising awareness around the inequities Black beauty entrepreneurs overcome everyday, and also celebrate their considerable contributions.
“The debut of this new annual observance signifies a watershed moment for the beauty industry,” Berry said in a statement shared with ESSENCE. “It acts as a catalyst for productive discussions and concrete steps toward crafting a fair and equitable entrepreneurial landscape in beauty.”
Berry also said she aims to promote industry-wide diversity and inclusion through targeted advocacy and open discussions.
“It was created out of love, first for myself, then for others honestly,” she tells ESSENCE. “I know there are so many people, specifically women, who forget to take care of themselves, so I want to help reconnect with themselves from the neck down.”
Since its launch in 2017, the company has been completely self-funded, which is yet another challenge Berry is tackling head on due to her tenacious nature.
“Everything comes from me,” she shares. “And it’s so crazy because, as we all know, when it comes to being a Black beauty founder, we have the hardest time securing funding.”