As inflation continues to increase for businesses, beauty and fashion brands owned by people of color are implementing strategies to help adapt.
CuyanaCuyana, a womenswear and accessories brand specializing in sustainable handbags, has had to increase its prices as a result of inflation, but company cofounder and chief executive officer Karla Gallardo said customers have remained supportive in spite of the hikes.
“There’s an old saying that when white people catch a cold, Black people catch pneumonia. I think that perfectly defines what is happening to Black businesses right now as a result of inflation. It is impacting the world, but it’s especially hard on Black people and Black businesses that already have historically been deprived of access to economic opportunities,” said Amira Rasool, founder and CEO of The Folklore Group.
“We have, however, certainly experienced an increased cost in raw materials, freight and components due to inflation. We’ve made the choice to absorb those costs rather than pass them to our buyers and were able to do so due to a healthy mix of direct-to-consumer and wholesale distribution,” she said.Hanahana Beauty is a clean skin care and wellness brand dedicated to uplifting women of color that has faced added pressure due to the economic situation in the country.
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