Ulta Beauty Commits $50 Million to DEI Initiatives in 2022
Omnichannel beauty retailer Ulta Beauty announced today a new commitment to invest $50 million in 2022 to diversity, equity and inclusion (DEI) initiatives encompassing its brands, products, customers and employees.
With the new commitment, Ulta aims to double its DEI investments over the prior year, which included efforts to grow the company’s assortment by more than doubling the number of Black-owned brands, and providing quarterly in-store training to reinforce inclusivity and address unconscious bias.
Dave Kimbell, chief executive officer, Ulta Beauty, said:
“As a values-driven company, we believe we have a responsibility to drive diversity, equity and inclusion in our company, industry and world. Looking back at 2021, I’m proud of the work we did to meaningfully grow our assortment, elevate and celebrate underrepresented voices, invest in our associates and create equitable experiences. Our forward-looking 2022 DE&I commitments ensure that we remain energized, creative and extremely dedicated to leading in this critical space.”
In 2022, Ulta stated that its DEI investments will focus on brand amplification, assortment growth and equitable guest and associate experiences.
The company outlined several of the key investment areas for this year’s DEI initiatives, including dedicating approximately $25 million to multicultural platforms to reach Latine, Black and other multicultural beauty enthusiasts and investing $8.5 million in brand marketing to support Black-owned, Black-founded and Black-led brands within the company’s assortment.
Ulta will also launch a Brand Partner Accelerator Program focused on early-stage BIPOC beauty brands, invest $5 million investment in venture capital firm New Voices to offer founders of color greater access, capital and expertise, and allocate $3.5 million to in-store merchandising to enable guests to more readily find the Black-owned, Black-founded and Black-led brands.
For equitable guest and associate experiences, the company is planning a $2 million donation to BIPOC and LGBTQ+-focused non-profits, mandatory in-store training for distribution center and corporate associates, to reinforce inclusivity and address unconscious bias, and to continue investing in efforts to support its diverse slate recruitment efforts.
Tracee Ellis Ross, who joined last year as Ulta Beauty’s DE&I advisor, said:
“After formally working together for a year, I’m hopeful that Ulta Beauty’s commitment to diversity, equity and inclusion has been a catalyst for other organizations to examine how they plan for and create foundational change. Ensuring employees can thrive and that customers are seen, heard and celebrated remains a clear business objective. The Ulta Beauty team brings passion and accountability to this necessary work and I am proudly committed to supporting this team.”
Source: The Hill