Sally Beauty champions women via new business program

Sally Beauty is giving female entrepreneurs a boost with the launch of a new business concept.

The major cosmetics retailer is launching "Sally Beauty Cultivate - For Women by Women," a business accelerator program that aims to help female-owned hair care brands develop and expand, via a combination of financial support and mentorship.

The winning brand will receive $25,000 as well as product distribution at SallyBeauty.com, and mentorship from the Sally Beauty team.

"We're excited to identify the next wave of women entrepreneurs and help support them through the Sally Beauty Cultivate program," said Jamira Johnson, VP Digital and Innovation at Sally Beauty, in a statement.

"We believe there is so much hair care innovation happening every day in women's homes, salons, and communities, and we want to encourage that innovation to thrive and grow."

The retailer has previous form in supporting women-owned haircare labels; it was the first national vendor of brands such as Made Beautiful, Mielle Organics, The Mane Choice and Arctic Fox.

Female-focused accelerator programs are becoming increasingly popular in the beauty industry.

Mass retailer Sephora welcomed 13 new female entrepreneurs to its fold as part of its 2018 Sephora Accelerate Cohort program back in March, while L'Oréal Paris runs an annual "Women of Worth" philanthropic program that celebrates women who are igniting social change on a local, national or global level and rewards their charitable causes.