The cosmetics group and the social network share a common ambition: to support emerging beauty talent. The two companies have therefore decided to create an incubation program. Candidates will have the opportunity to win up to $250,000 in financial support, as well as mentoring and assistance for their projects.
The Estée Lauder Companies, through its investment fund New Incubation Ventures, wants to encourage cosmetics start-ups.
“Today, founding a beauty brand requires more than traditional business acumen; it’s about crafting narratives, building communities and shaping not just trends, but broader conversations and movements. The founders are storytellers, cultural ambassadors, filmmakers, designers, gamers and artists,” said Shana Randhava, Senior Vice President, New Incubation Ventures.
For her part, Vanessa Craft, Global Head of Partnerships at TikTok, said: “We have witnessed first-hand the evolution of beauty on TikTok, not only in the way products are shared and discovered, but also in the way they are perceived. We’re delighted to be joining forces with the Estée Lauder companies to find and train the future pioneers of the beauty industry.”
To take part in the project, candidates can submit their applications online until August 4, 2024.
