Sally Beauty Holdings Is Helping Beauty Entrepreneurs Take Their Businesses to the Next Level

Rhea-AI Summary

The 2022 Cultivate Accelerator Program by Sally Beauty Holdings aims to support diversity and growth in the beauty industry by empowering entrepreneurs through mentorship and funding. Launched in 2018, the program focuses on scaling small businesses with innovative hair care and styling products. This year, it has expanded to include a broader group of beauty innovators. Winners receive $30,000 in funding and guidance in key business areas, while applications are open until April 22, 2022. The initiative aligns with Sally Beauty's commitment to fostering entrepreneurship in the beauty sector.

Positive

• Launch of the 2022 Cultivate Accelerator Program to support diverse beauty entrepreneurs.
• Winners receive $30,000 in funding and extensive mentorship from industry leaders.
• Increased inclusivity by expanding the program to more entrepreneurs beyond female founders.

Negative

• None.

The 2022 Cultivate Accelerator Program Continues to Support Beauty Industry Diversity and Growth In Its Third Year

DENTON, Texas, April 14, 2022 /PRNewswire/ --  Sally Beauty Holdings, the leader in professional hair color, just launched its third Cultivate Accelerator Program focused on bringing beauty entrepreneurs' business plans and visions to life. Consistent with its mission to bring professional-quality products to consumers and professionals through Sally Beauty and Cosmo Prof respectively, the program was created to find, launch, and support small businesses that created unique and innovative products within the hair care, hair color, styling tool, and nail categories.  

A pioneer when it comes to launching undiscovered brands, Sally Beauty was the first national beauty retailer to offer in-store distribution to Mielle Organics, The Mane Choice, and Arctic Fox. "It is extremely challenging for new brands to break into the beauty industry due to its competitive nature. We want to give entrepreneurs a chance they otherwise might not receive," said Maryann Herskowitz, Group Vice President of Merchandising at Sally Beauty.

This was the impetus behind the launch of the Cultivate Accelerator Program in 2018. It was conceived as a program that provides new brands with the opportunity to scale their business by offering distribution and access to a national audience. It propelled winning brands Curlanista and PuffCuff to new heights. Creata Lash, Founder of PuffCuff, shared that "receiving the President's Innovation Award and being accepted into the Cultivate Program was an entrepreneurial 'pinch me' moment. We were thrown into the retail side of e-commerce where we learned invaluable lessons at a breakneck pace in real-time. I can't thank Sally Beauty Holdings enough for the experience, and I hope to continue this partnership for many years to come." Additional past winners include Peculiar Roots, Patti Yankee, UniQurl, and True + Pure Texture.

Sally Beauty Holdings knows it is not enough to simply get products in the hands of consumers and stylists; growing and mentoring the people behind the brands with ongoing support is just as important. In support of this continued commitment, the program empowers beauty entrepreneurs and is strategically designed to help small businesses scale by providing two well-deserving winners with mentorship, distribution at Sally Beauty and/ or Cosmo Prof, and $30,000 worth of funding split between the founders. Finalists receive the unique opportunity to participate in a 4-week virtual boot camp where seasoned Sally Beauty Holdings leaders provide guidance in key areas such as Marketing, Merchandising, Legal, E-commerce, Store Operations, and more. The boot camp is specifically built to set brand founders up for success and help them understand how to develop a business plan and grow their businesses while making their visions become reality. The boot camp concludes with each founder pitching their business plans to Sally Beauty Holdings executives.

Previously, the Cultivate Accelerator Program focused specifically on female founders. This year, the retailer expanded the program to a more diverse group of beauty innovators. "As we continue to see the beauty industry grow and diversify, it feels like the right time to open the program up giving more entrepreneurs an opportunity to advance their brands," said Herskowitz. "This change was made with our customers in mind. Opening the program up allows for more innovation and unique products that help serve our customers' everchanging needs."

The 2022 Cultivate Accelerator Program is open to entrepreneurs and innovators that have a social media presence and are not distributed by other major retailers within the following categories– hair care, hair color, hair tools, and nails. The program is accepting applications through April 22, 2022. To learn more about the Cultivate Accelerator Program and to apply, visit SallyBeauty.com/Cultivate.

About Sally Beauty Holdings, Inc. 
Sally Beauty Holdings, Inc. (NYSE: SBH), as the leader in professional hair color, sells and distributes professional beauty supplies globally through its Sally Beauty Supply and Beauty Systems Group businesses. Sally Beauty Supply stores offer up to 7,000 products for hair color, hair care, nails, and skin care through proprietary brands such as Ion®, Generic Value Products®, Beyond the Zone® and Silk Elements® as well as professional lines such as Wella®, Clairol®, OPI®, Conair® and L'Oreal®. Beauty Systems Group stores, branded as CosmoProf® or Armstrong McCall® stores, along with its outside sales consultants, sell up to 10,000 professionally branded products including Paul Mitchell®, Wella®, Matrix®, Schwarzkopf®, Kenra®, Goldwell®, Joico® and Olaplex®, intended for use in salons and for resale by salons to retail consumers. For more information about Sally Beauty Holdings, Inc., please visit https://www.sallybeautyholdings.com/.

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SOURCE Sally Beauty Holdings, Inc.

FAQ

What is the Sally Beauty Holdings Cultivate Accelerator Program?

The Cultivate Accelerator Program is an initiative by Sally Beauty Holdings aimed at supporting beauty entrepreneurs by providing mentorship, funding, and distribution opportunities.

When does the application period for the Cultivate Accelerator Program end?

Applications for the 2022 Cultivate Accelerator Program are open until April 22, 2022.

What types of businesses can apply for the Cultivate Accelerator Program?

The program is open to entrepreneurs with innovative products in hair care, hair color, hair tools, and nails, who do not have distribution with major retailers.

How much funding do winners of the Cultivate Accelerator Program receive?

Winners of the program receive a total of $30,000 in funding, split between the founders.

What are the benefits of joining the Cultivate Accelerator Program?

Benefits include funding, mentorship from industry veterans, and access to distribution channels at Sally Beauty and Cosmo Prof.