MILAN — The Estée Lauder Cos. Inc. has zeroed in on the nine finalists of the inaugural edition of its The Catalysts program.
Created by the company’s New Incubation Ventures, or NIV, with support from TikTok, the global initiative is aimed at identifying new talents in beauty and empowering emerging creative storytellers who aim to disrupt the industry.
Finalists include fashion designer Charles Jeffrey, founder of Charles Jeffrey Loverboy, who aims to redefine “the makeup landscape with an elevated, alternative queer perspective” with a Loverboy Beauty line. “Our brand would launch versatile, high-quality color complexion products that seamlessly transition from day to night without staining clothing,” stated press notes.
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Jeffrey is joined by brands such as Forta, the emerging cosmetic brand by WNBA player Lexie Hull and Sarah Guller and Etia London by Lucy Edwards, which “actively includes the 1.3 billion disabled people worldwide” aiming for makeup to be accessible through modular design, Braille, NaviLens codes and tutorials.
Other finalists are Black women-owned hair care brand Ruka by Tendai Moyo and Ugo Agbai; Sky High Farm Universe by Daphne Seybold and Dan Colen; Gorgeous Nothings by Avigon Paphitis; clean body care brand Baude NY by Monica Ha, Heather Rosenthal and Charlotta Hellichius; Beame by Eniye Okah, and Zure Solaris by Samuel Cheney and Aaron J. Hurley.
Launched earlier this year, the initiative comes with the chance to win up to $250,000 in financial backing, as well as mentorship and project assistance via access to experts for product and content development, brand building, finance, operations and supply chain.
An international panel has selected the nine finalists and will name two winners who stand out for innovative branding, product development and storytelling, to be revealed at an event in Paris on Oct. 2.
The jury is headlined by Shana Randhava, senior vice president, NIV, The Estée Lauder Cos., and TikTok’s global head of partnerships Vanessa Craft. Other members include Michèle Lamy; Francisco Costa; Violet Chachki; Craig McDean; Fabien Baron; Drew Elliott; Eugene Souleiman; Mitchell Halliday; Hung Vanngo; Ruba Abu-Nimah; Thomas Roussel; Julia Sarr-Jamois; Carlos Nazario; Andreas Neophytou; Courtney McHugh; Sallyann Houghton; Grace Choi; Celia Ellenberg, and Hanna Hanra.
“The Catalysts received an overwhelming response from over 400 creators and founders from around the world. Applicants represented a cross-section of the industry showcasing innovative approaches to products, storytelling and community building,” Randhava said.
Applicants included founders of both emerging and existing brands seeking support for their venture, new product concepts or limited-edition collections, as well as content creators who could use funding for films, books or podcasts speaking to new ideas and new audiences in beauty.
Around 22 percent of applicants submitted ideas and business plans in the skin care category, followed by makeup and hair care, accounting for 18 percent and 17 percent, respectively. Other sectors included body care, home fragrance, retail and creative storytelling.
“The Catalysts has produced a shortlist that really speaks to the evolution of beauty, showcasing a diverse and innovative new generation of founders,” said Craft, underscoring that “many of the talented names on the list have already tapped into TikTok’s inclusive beauty ecosystem, sharing their unique voice and creativity.”
The social medium is supporting the program’s amplification, tapping into the strength of the beauty community it has built so far and that has helped to further rev up the industry, creating new trends and ways to communicate them, which resulted into #Beauty amassing more than 45 million posts on the platform.
As for NIV, the strategic early-stage investment and incubation arm of The Estée Lauder Cos. Inc. has already proven its mission in partnering with entrepreneurs and up-and-coming brands to build new engines of growth for the parent company’s portfolio, which includes Estée Lauder, Clinique, MAC Cosmetics, La Mer, Tom Ford and The Ordinary, to name a few.
For one, last year NIV took a minority stake in British fragrance brand Vyrao as well as in Chinese brands Code Mint and Melt Season.