Forbs magazine recently announced a selection of 32 black-owned beauty brands. At the outset of the magazine, it said, "Thanks to initiatives like the Black Lives Matter movement and Fifteen Percent Pledge, there’s been an uptick in support of Black-owned businesses across various sectors, especially in the beauty space."
It is unknown whether the views of a small number of Forbs writers and reviewers objectively selected the list of brands. However, the publication is well respected by the public, it might be helpful for beauty supply buyers to review the list of products that Forbs listed.
Some of our readers may be wondering why there is huge media attention on supporting black-owned companies, especially on beauty products. The nationwide beauty supply stores had been supporting black-owned beauty products for more than a half-century. Long before the support black-owned business movement started, the beauty supply industry had been campaigning to support black-owned businesses under the slogan of the "Proud Lady." The products with the Proud Lady logo were placed in better spaces within the stores and various sales promotions were offered.
Matter of fact, more than 50% of haircare and skincare products sold at an average ethnic beauty supply store were or are made by black-owned companies. About 40% of products are made by big corporates such as Loreal, Revlon, P&G, and Unilever. If mainstream media doesn't address these obvious facts while writing about the support black-owned business, especially in the beauty industry, they are intensionally or unintentionally misleading the public to think otherwise.
Following is the list of 32 black-owned brands Forbs magazine selected.