By Michelle Cheng.
The technology sector has been in the hot seat recently over its lack of gender balance, but it’s not the only industry whose upper echelons remain male-dominated. The multibillion-dollar beauty industry sells primarily to women, but its biggest companies continue to be run mostly by men. That means men are at the helm of the companies that choose the shade of a lipstick and the size of a mascara wand.
Now, however, a new wave of women-led startups are trying to change that. Companies such as Birchbox, Glossier and Ipsy are challenging established beauty-industry giants, and executives such as Birchbox CEO Katia Beauchamp argue that their businesses’ more diverse leadership teams give them an edge. There are signs they may be right, or at least that investors think they are: Women-led beauty startups are attracting money from venture capital funds, and shareholder groups are putting pressure on existing companies to diversify their leadership.
Read more at FiveThirtyEight.