Before COVID-19 hit, the beauty industry was valued at $532 billion and on a rapid upward trajectory. Now, however—in the midst of a global health crisis—experts predict that global beauty-industry revenues could fall by as much as 20 to 30% in 2020.

But despite these discouraging stats, the beauty industry is resilient. During the 2008 financial crisis, spending in the industry only fell slightly and fully bounced back within two years.

To dive into a discussion on the state of small business, specifically within the beauty industry and what the future holds for the category post-COVID-19, we tapped four powerhouse founders who are at the helm of next-generation brands and disrupting beauty and wellness verticals.

Panelists:

Shontay Lundy | Founder, Black Girl Sunscreen

Tai Beauchamp | Co-Founder & CBO, Brown Girl Jane

Rochelle Graham-Campbell | CEO & Co-Founder, Alikay Naturals

Africa Miranda | Author, Host, & Founder, Beauty by Africa Miranda

Moderator:

Ginger Siegel | North America Small Business Lead, Mastercard