Mayvenn Offers Relief to Struggling Salons
By Beauty Packaging Staff | 07.29.20
Donates $1.25 million to hairstylists across the country during the coronavirus pandemic.
Mayvenn, a Black-owned, venture-backed tech company and "empowerment network" in the hair and beauty industry, has donated $1.25 million to 2,500 hairstylists across the country who struggled to make ends meet as their salons were shuttered during the COVID-19 pandemic.
The company launched its #SavetheSalon in May with a ten-to-one match of every dollar donated by the community, backed by a slate of donors, including Twitter CEO Jack Dorsey, Serena Williams, Ben and Felicia Horowitz, The Charles and Lynn Schusterman Family Foundation, and the Libra/Pritzker Family, who did not hesitate in supporting Diishan's vision for delivering direct relief to hairstylists and salons, and multiplying community support.
"I knew we had to do something," said Mayvenn CEO Diishan Imira. "It became clear that we couldn't count on our government to support these black entrepreneurs. This wasn't just lost corporate revenue, it was rent, groceries, utility bills, booth fees, car payments, health care, and much more. Although some companies offered the ability to delay payments, stylists and salon owners would fall behind and this would impact their businesses. Thanks to our very generous donors and support from our own community, we were able to provide this assistance."
In June, Mayvenn paid $500 relief checks via its proprietary InstaPay system directly into the bank accounts of active stylists at a time when small business owners and entrepreneurs grappled with cumbersome unemployment insurance applications and experienced long delays in receiving state and federal aid. The company also donated masks and gloves to salons across the country to lessen operating expenses as salons re-opened with a fraction of their normal clientele and needed to keep everyone safe.