The Estée Lauder Companies’ NIV with Support from TikTok to Launch The Catalysts Program

Rhea-AI Summary

The Estée Lauder Companies (NYSE: EL) has launched The Catalysts program, an incubator for emerging talent in the beauty industry, created by its New Incubation Ventures with support from TikTok. The program aims to spotlight, uplift, and empower innovative storytellers in beauty. Two winners will be selected to receive up to $250K in financial backing, mentorship, and project assistance. Applications are open until August 4, 2024, with winners announced in October 2024 at an event in Paris. The initiative includes ten masterclasses led by industry experts to guide applicants in building successful beauty brands.

Positive

• Launch of The Catalysts program, spotlighting innovative talent in the beauty industry.
• Up to $250K financial backing and mentorship for winners.
• Collaboration with TikTok, leveraging its large beauty community.
• Inclusion of ten masterclasses to support applicant development.

Negative

• to applicants who are legal residents of their country and at least 21 years old.

Created by ELC’s NIV and launched with support from TikTok, The Catalysts is an innovative incubator program spotlighting emerging talent poised to disrupt the creative landscape in beauty

NEW YORK--(BUSINESS WIRE)-- The Estée Lauder Companies (NYSE: EL) (“ELC”) is pleased to announce the launch of The Catalysts program. Created by ELC’s New Incubation Ventures (“NIV”) and launched with support from TikTok, the integrated, global initiative is aimed at spotlighting, uplifting, and empowering emerging storytellers with fresh visions for the beauty industry. Applicants will have the chance to win up to $250K in financial backing as well as mentorship and project assistance.* A distinguished panel of industry luminaries, creative visionaries, and TikTok creators will select two winners who are reshaping the future of beauty through innovative branding, product development, and storytelling.

The program underscores NIV's dedication to championing the trailblazing spirits in beauty, accentuating the influence and impact the beauty industry has and its interconnectedness with wider cultural, social, and artistic landscapes.

TikTok's beauty community has helped revolutionize the industry, creating an inclusive space, and facilitating new ways of beauty storytelling. With #Beauty amassing over 45M posts, TikTok breathes life into new trends. Beauty on TikTok is rooted in the unique and inclusive beauty community on the platform, a diverse constellation of beauty subcultures, with content for every kind of style one can imagine.

“Today, founding a beauty brand takes more than traditional business acumen; it's about crafting narratives, building communities, and shaping not just trends but also broader conversations and movements. Founders are storytellers, cultural ambassadors, filmmakers, designers, gamers, and artists,” said Shana Randhava, Senior Vice President, New Incubation Ventures. “Their visions of beauty — expressed via product, retail experiences, films, content — continue to fuel growth in the beauty sector. We set out to create a program to identify and elevate these visionaries as they continue to drive innovation and push the conversation forward.”

"We've witnessed the evolution of beauty firsthand on TikTok, not just through how products are shared and discovered, but how they are experienced,” said Vanessa Craft, Global Head of Partnerships at TikTok. “We're proud to have created a space where everyone is able to explore the diversity and inclusivity of beauty - driven by our incredible community of creators and brands who enable enthusiasts to be a part of something and see how beauty products perform on people that look like them. We are delighted to be joining The Estée Lauder Companies in finding and nurturing future pioneers of the beauty industry."

To support applicants, The Catalysts will unveil ten masterclasses providing an overview of what it takes to build the next great brand. Whether applicants dream of revolutionizing skin care, cosmetics, or fragrance, The Catalysts Masterclass series taps a group of industry-leading founders, storytellers, and creatives to share the insights needed to build a next generation beauty brand.

The Catalysts applicants will be judged by an esteemed jury of creative figures, including accomplished entrepreneurs, investors, content creators, experts, as well as representatives from The Estée Lauder Companies. Judges include Shana Randhava, Vanessa Craft, Michèle Lamy, Fabien Baron, Craig McDean, Carlos Nazario, Eugene Souleiman, Hung Vanngo, Ruba Abu-Nimah, Julia Sarr-Jamois, Thomas Roussel, Violet Chachki, Drew Elliott, Courtney McHugh, Andreas Neophytou, Francisco Costa, Celia Ellenberg, Hanna Hanra, Sallyann Houghton, Mitchell Halliday, and Grace Choi.

*The Catalysts website and application portal are live and will accept applications until August 4, 2024, 11:59 PM ET. Full Official Rules, program details and prize descriptions are available at www.thecatalystsworld.com.

Winners will be announced in October 2024 at a final event in Paris.

No purchase necessary. A purchase will not increase chances of winning. Participation is open only to creators who are legal residents of their country of residence, are at least 21 years of age and have attained the age of majority in their state, country or province of residence. Void where prohibited.

Website: www.thecatalystsworld.com
TikTok: @thecatalystsworld

About New Incubation Ventures

New Incubation Ventures (NIV) is the strategic early-stage investment and incubation arm for The Estée Lauder Companies. NIV partners with forward-thinking founders and entrepreneurs to create, fund, and support the best-emerging beauty brands and new business models to shape the future of beauty and build an actionable pipeline of diversified brands and new engines of growth for the ELC portfolio.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skincare, makeup, fragrance, and hair care products. The company’s products are sold in approximately 150 countries and territories under brand names including Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD BEAUTY, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

ELC-C

View source version on businesswire.com: https://www.businesswire.com/news/home/20240625291418/en/

For More Information:

Audrey Miranda, Lucien Pagès Communications

amiranda@lucienpages.com



Media Relations:

Jill Marvin

jimarvin@estee.com



Investor Relations:

Rainey Mancini

rmancini@estee.com

Source: The Estée Lauder Companies Inc.

FAQ

What is The Catalysts program launched by Estée Lauder (EL)?

The Catalysts is an incubator program created by Estée Lauder's New Incubation Ventures with support from TikTok to spotlight, uplift, and empower emerging storytellers in the beauty industry.

How much financial backing can winners receive in The Catalysts program by Estée Lauder (EL)?

Winners of The Catalysts program can receive up to $250K in financial backing.

When is the application deadline for The Catalysts program by Estée Lauder (EL)?

The application deadline for The Catalysts program is August 4, 2024.

When will the winners of The Catalysts program by Estée Lauder (EL) be announced?

Winners of The Catalysts program will be announced in October 2024 at an event in Paris.

What support will The Catalysts program by Estée Lauder (EL) provide to applicants?

The Catalysts program will offer ten masterclasses led by industry experts to help applicants build successful beauty brands.