In 2019, Though bleak when compared against the goal of equal representation, women representation already stands at one of the highest percentages of representation, at least significantly higher than the 10.9% seen in the tech, business, and engineering industries.

However, this is not anything to celebrate about. In fact, this feels ironic.

Despite being a female-focused industry, female representation remains abysmally low considering that women are the industry's main consumers. It’s frustrating, but it’s true – and the beauty industry seems to evade criticism for its gender gap in leadership positions due to its comparatively higher historical rates of female representation.

Shouldn’t companies catering to female consumers be led by women themselves?

Looking Through the Fog: Gender Realities in the Beauty Industry

Credit must be given where due to the beauty industry, which has made significant progress towards gender diversity. Product ranges have expanded and marketing campaigns have become more inclusive, catering to all genders, including men and the LGBTQ+ individuals. Some notable examples include:

• Inclusive beauty product launches, such as Fenty launching an inclusive skincare line in 2020 that caters to both men and women
• The inclusion and acceptance of many LGBTQ+ beauty influencers like NikkiTutorials, Jeffree Star, James Charles, and Bretman Rock
• Campaigns for equality, such as the MAC Viva Glam campaign that aim to help oppressed communities be seen and heard

However, the consumer market is where this equality draws its line.

Contrary to trends, similar progress regarding gender equality has not been fully reflected in the industry’s leadership. As an industry veteran I have often found myself surrounded by male colleagues – while these men were undoubtedly talented and capable, my experience of being the only woman in a decision-making position has not been an isolated experience. In fact, more than 2/3 of executive leaders in the industry are men, and this number isn’t changing anytime soon.

Don’t Merely Wish for Change: Shareholders and Investors as Catalysts of Change

To address this disparity and promote meaningful change, we cannot neglect the crucial role shareholders and investors play in influencing corporate decision-making.

In fact, they’ve been known to be important for a while – Deloitte’s 2013 report on Women in the Boardroom underscores how important shareholder sentiment is.

Shareholders and investors can foster change by using their financial leverage – investing in companies that prioritize gender diversity and demonstrate commitment to closing the gender gap. This sends a strong message to the industry that gender diversity is not just a social issue but also a business imperative. By investing in companies that value diversity, shareholders can encourage other brands to follow suit or risk losing investor support.

Investors have also recognized the significance of gender diversity for years. Their support can act as a catalyst, fostering an environment where companies actively seek to close the gender gap. The beauty industry must recognize that empowering women in leadership roles is not only a moral obligation but also a strategic move that can drive innovation, creativity, and better decision-making.

Final Thoughts 

The beauty industry has made progress in inclusivity and representation, but the gender gap in leadership remains a significant challenge.

By leveraging financial influence, shareholders and investors can be powerful allies in pushing for meaningful change, and we can all be a part of that as consumers, employees and stakeholders ourselves.

• Consumers can support companies that champion gender diversity, reinforcing the message that inclusivity matters
• Employees can advocate for diversity initiatives within their organizations, ensuring that women have equal opportunities to advance their careers
• Stakeholders can encourage and reward companies that take meaningful steps towards closing the gender gap