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Consumers of color in the U.S. hold nearly $3.9 trillion in purchasing power and Sephora is all over it. Here is the progress Sephora has made since 2020 in advancing BIPOC employees and brands: 💄 Signed the 15 percent pledge, making it the first major retailer to retain 15% of shelf space for Black-owned brands. 💄 Launched Sephora Accelerate, also known as the talent incubator initiative, a six-month program to help BIPOC-owned small brands build and scale their companies with the objective of one day selling at Sephora. 💄 Increased BIPOC representation in the the C suite from 39% to 42%. 💄 Increased the share of BIPOC managers from 39% to 52% in the past four years by revamping talent recruitment, development and advancement. 💄 Asked leaders to interview more BIPOC candidates and tied D&I objectives to performance reviews and bonuses for every single Sephora employee, from store associates to the CEO. Shoutout to the leadership of VP of DEI George-Axelle Broussillon Matschinga 👏👏👏👏 And that's not all.... Artemis Patrick is the new CEO, making her the first women AND person of color to lead the company. And for those who think DEI is bad for business: Sephora generated $19.4 billion in revenue last year, making it LVMH’s most profitable subsidiary.

The Rise, Fall, and Comeback of Abercrombie & Fitch Co. & Fitch Abercrombie & Fitch Co.’s journey is one of the most notable comeback stories in retail: 90s & Early 2000s: Under CEO Mike Jeffries, Abercrombie became a huge hit with its bold “All-American” vibe, featuring ultra-fit, young models. Teens loved it, but the brand’s exclusive image started losing its charm. Mid-2010s: Social attitudes shifted, and Abercrombie’s lack of diversity and high prices didn’t sit well. Sales dropped, and it got labeled as “America’s most hated retailer.” 2017 and Beyond: New CEO Fran Horowitz turned things around by focusing on inclusivity, digital growth, and customer experience. By bringing in diverse models, new product lines, a stronger online presence, and more welcoming stores, Abercrombie saw a 16% sales bump by 2023. This week: With Jeffries’ recent arrest reopening old wounds, Abercrombie is reminded to stay transparent, ethical, and focused on its customers. Key Takeaway? Brands need to adapt to survive. Sticking to old ways in a changing world leads to irrelevance. #Branding #Leadership #Marketing #Business

Retail Today / Retail Renaissance: This morning we are sticking with Specialty Retail, the amazing story of Abercrombie! 🔥🔥🔥 Abercrombie & Fitch Co. Under the leadership of CEO Fran Harowitz since 2017, she has recreated this brand that is setting customers, vendors and investors on fire. #customers #aspirationalshoppers Just a few crazy facts, their stock was up 390% last year! This year it’s up 100%! 💵💵💵 #investors #wallstreet Sales last year +16% , but first-quarter results this year +22%; a record breaking quarter. #sales Two fantastic brands: Abercrombie - focused on millennials. Hollister - appealing to GenZ. #abercrombiefitch #millennials #hollister #genz #brands How did they do it? “PRODUCT”! They listen to their customers and provided classic colors and styles. They aren’t afraid of SOCIAL MEDIA, working with both influencers and creators on TikTok. Joanna Williams #product #merchandising #fashion #style #design #socialmedia #tiktok Can they keep up this pace? Can Richard Dickson find a path forward for Gap? #gap #retail #retailtrends #retailindustry #shoppingexperience #brandexperience #apparelindustry #TopRetailExpert

While tension mounts against DEI initiatives, some companies like Sephora aren't shying away from their goals, instead choosing to lean in. I spoke with George-Axelle Broussillon Matschinga, vice president of diversity and inclusion for SEPHORA, on how she fostered a majority BIPOC leadership team at the cosmetics giant in four short years. Despite critics saying DEI is bad for business, Sephora has witnessed the complete opposite. The surge in diverse leaders comes as the beauty retailer notched some $19.4 billion in revenue last year, making it one of LVMH’s most profitable subsidiaries. Sephora appears poised to tap into a financially powerful and loyal buying market. Consumers of color in the U.S. hold nearly $3.9 trillion in purchasing power, with Black Americans alone spending $6.6 billion on beauty in 2021. Read more at Fortune!

No matter how great a restaurant, rock band, or fashion brand might be, they eventually hit their peak and begin a downward trajectory, sometimes slowly, other times rapidly. The solution: they must summon the courage to reinvent themselves periodically. However, reinventions are hard for organizations to enact, particularly when the imprint and perception of their former glory are so ingrained in their internal and external cultures. Due to its debaucherous past and salacious heyday in the early 2000s, most experts wrote Abercrombie & Fitch off for good because of its scandals and exclusionary practices. The company seemed to have entered an unrecoverable death spiral when young people voted it one of the most hated retail brands by the American Customer Satisfaction Index. The best leaders, however, see these near-death moments as a prime opportunity to risk reinventing their brand. In a spectacular turnaround story, Abercrombie saw its shares soar 285% in 2023, beating not just the S&P 500, up 24%, but the top five performers in the S&P, including Nvidia, at 239%, and Meta Platforms, at a mere 194%. As the only non-tech brand on the list, Abercrombie is now part of the exclusive club of the Magnificient Seven. While many factors have contributed to their remarkable recovery, a fashion brand can only succeed by creating demand for its products and projecting a desirable perception that customers want to wear as part of their personal and social identity. Abercrombie has done both amazingly well. The lesson for companies isn't whether your brand will need a reinvention but when. #fashion #business #branding #brand #consumers #clothing #turnaround #leaderships #leaders #management #risk

What's New to TheStreet... 👗 Abercrombie Won by Leaving Teens Behind. Hollister Sticks with Youth! 👕 While Abercrombie shifted focus, sibling brand Hollister is staying true to its teenage roots, adapting to post-pandemic trends and teen desires. 🌟🛍️ Do you think Hollister's strategy will pay off? Share your thoughts below! Share your thoughts!💬👇🏻 👉🏻Follow New To The Street for more! #fashionnews #abercrombie #hollister #teenfashion #businessnews #business #news #newtothestreet

Embrace Diversity, Empower Your Brand: The Inclusion Revolution 🌍✨ In the U.S., diversity and inclusion aren’t just buzzwords – they are fundamental to building brand loyalty and connecting with today’s consumers. Consumers expect brands to reflect the real world, and those that don’t are being left behind. 🌈 Brands like Fenty Beauty and Nike have revolutionized their industries by prioritizing representation in both product development and marketing. Fenty Beauty’s 40-shade foundation line wasn’t just about makeup – it was a statement that everyone deserves to feel seen. Similarly, Nike’s campaigns feature athletes of all races, genders, and abilities, making inclusivity a core part of their identity. 🚀 Why it Matters: The U.S. is more diverse than ever, and consumers, especially Gen Z and Millennials, want to see themselves reflected in the brands they support. Brands that are authentically diverse build deeper, emotional connections and foster loyalty in a way that transactional relationships never can. Actionable Insight for Brands: Start from within. Build a diverse team that represents a variety of perspectives, and let that influence your product offerings and marketing campaigns. Ensure your brand speaks to all audiences, not just one segment. Authenticity is key – performative diversity won’t cut it. #DiversityAndInclusion #InclusiveBranding #RepresentationMatters #BrandEmpowerment #MarketingStrategy #EquityInMarketing #GenZTrends

This article spotlights Adidas but they're not alone in the array of companies that look one way from the outside but it's a completely different story for DEI on the inside. A few factors that play into this are: 1) how easy it is to talk the talk vs. walking it 2) how DEI efforts are prioritized as not just being good to get business in terms of marketing but also it's how we handle business inside not just outside 3) and how a company navigates uncertainty in relation to DEI--this is part of that overlap between DEI and AQ which is a company's measure of their ability to adapt to unexpected change. #adaptability #aq #dei #elynnjac #Adidas #diversity #diversityandinclusion #equity #inclusion ##diversityequityinclusion

After reading about SEPHORA's DEI success in Europe, it's inspiring to see companies prioritizing diversity globally. Understanding regional nuances and adapting DEI strategies is key. Artemis Patrick's appointment as CEO sets a powerful example. Linking D&I goals to performance reviews shows a tangible commitment to change. Collaborating with HBCUs for talent sourcing is a strategic move. This showcases that DEI isn't just a moral stance; it's a smart business strategy. Sephora's approach proves that diversity isn't just about optics; it's about creating a more innovative and inclusive workplace. #DiversityWins #StrategicDEI #InclusiveSuccess #TalentRevolution