This week Ulta Beauty announced its $25 million plan to revamp its DEI strategy:
Areas of focus:
“amplify brands, adjust merchandise assortment, promote Black voices, and create welcoming guest and associate experiences.”
Appointed a D&I advisor “to drive accountability”
“A formal commitment of time and resources, dedicated financial support, an organizational structure and formalized internal governance demonstrate the level of commitment across the company.”
ideascape View: $25 million is a large commitment but notice how it is mostly directed towards the spheres of societal influence and community impact. This kind of commitment is tricky– it requires cross-functional buy in and contribution from in-group stakeholders. At the same time, the financial dedication to philanthropy and external partnerships is backed up by a much smaller commitment to internal change. Is this skipping a step? When it comes to executing your DEI agenda, does your budget account for the internal and the external changes that need to happen? We have a plan to help.
