Rihanna Brings Fenty Beauty “Home”

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News Americas, New York, NY, Tues. Nov. 12, 2024: Rihanna’s iconic beauty brand, Fenty Beauty, is now available in the Caribbean, marking a meaningful homecoming for the Barbadian superstar. The Caribbean launch includes nine islands, including Barbados, where Rihanna was born, grew up and first found inspiration for her music and brand.

Rihanna poses in front of own ad campaign at bus stop in Barbados bearing mother’s name after Fenty Beauty is launched in Caribbean hometown. (IG image)

This expansion not only introduces Fenty Beauty’s inclusive products to Caribbean consumers but also strengthens Rihanna’s connection to her roots, celebrating her heritage and commitment to diversity.

Since its inception, Fenty Beauty has set new industry standards for inclusivity, launching with 40 foundation shades and expanding to 50 to meet the needs of diverse skin tones. Now, with its Caribbean launch, the brand provides beauty options for consumers who have long awaited a line that reflects their unique skin tones and styles. The expansion brings Fenty Beauty’s popular products like the Pro Filt’r Soft Matte Foundation, Gloss Bomb, and Stunna Lip Paint to islands where representation in global beauty has often been limited.

For Rihanna, the Caribbean launch is deeply personal. In a heartfelt speech at the launch event in Barbados, she shared: “Coming back home, where I first met and appreciated beauty, means everything to me. Fenty Beauty and Fenty Skin were inspired by my people, my family, and my friends here in Barbados.” Her brand’s ethos resonates strongly in the Caribbean, where Rihanna’s focus on inclusivity and empowerment strikes a powerful chord.

The Fenty Caribbean launch featured events with product demos, makeup tutorials, and exclusive consultations, allowing local fans and influencers to experience the brand firsthand. This expansion provides opportunities for local beauty experts and entrepreneurs to engage with a world-renowned brand, establishing Fenty Beauty as a new staple in the Caribbean market.

Fenty Skin and Fenty Fragrance and Fenty Hair will be available to buy in nine islands including the singer’s home country of Barbados. The other countries are Antigua, Aruba, the Bahamas, Bermuda, Cayman Islands, Trinidad and & Tobago, Grenada and Sint Maarten.

With this latest milestone, Rihanna continues to impact the Caribbean beauty landscape, creating opportunities and celebrating cultural pride. By bringing her brand to the islands, Rihanna’s Fenty Beauty underscores her dedication to representation, inclusivity, and honoring her Caribbean heritage.

Shoppers can expect to find the products at these selected retailers: Lipstick Antigua, Maggy’s Aruba, John Bull Ltd Bahamas, Bridgetown Duty Free, 59 Front, Bermuda, Kirk Freeport from Cayman Islands and Vendome in Trinidad and Tobago.

Caribbean Firms Face Structural Barriers To Growth Research Finds

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News Americas, New York, NY, Tues. Nov. 12, 2024: Caribbean businesses encounter significant operational and financial challenges, with informal payments, power outages, and limited access to capital markets among the top hurdles, according to a new report by the Inter-American Development Bank, (IDB) and Compete Caribbean titled “Are We There Yet? The Path toward Sustainable Private Sector Development in the Caribbean.”

The report, which covers 13 Caribbean nations, finds that regulatory bottlenecks often lead firms to rely on informal payments to expedite approvals, such as import licenses or construction permits. Meanwhile, two-thirds of firms face frequent power or Internet disruptions, emphasizing the need for stronger public service infrastructure to support business continuity.

A critical challenge highlighted is the lack of access to finance, which severely limits firm productivity. The study notes that Caribbean capital markets are underdeveloped and often illiquid, forcing companies to rely on limited and high-cost credit markets. Further complicating this issue is the lack of robust credit history data, which stifles lending options.

The report also identifies limitations in the region’s support for innovation and entrepreneurship. Although many Caribbean countries see significant potential in fostering entrepreneurship, systematic support for startups is scarce, and existing programs are often small in scale or temporary. This inhibits the development of scalable enterprises and limits the growth of a robust private sector.

Workforce Mismatch and Brain Drain

The Caribbean also faces a notable mismatch in labor market needs, with an oversupply of unskilled workers and a shortage of skilled professionals, particularly in technology sectors. Emigration of highly skilled workers to opportunities abroad exacerbates this imbalance, leaving critical skill gaps in key industries, the study said.

Need for Policy Reforms and Modernized Services

To address these issues, the report suggests reforms to improve business processes and public services. Key recommendations include streamlining licensing procedures, automating services through digital platforms, and implementing transparency campaigns to reduce corruption.

For workforce development, the study advises creating closer collaboration between employers and educational institutions to align training programs with in-demand skills, especially in information and communication technology (ICT). It also recommends government-supported job placement services and vocational training programs to enhance employment opportunities.

Support for Innovation and Financial Inclusion

On the financial front, the IDB study calls for policies that foster competition in credit markets and expand financial inclusion. These include establishing credit registries and bureaus for sharing credit histories, strengthening property rights and insolvency processes, and advancing financial technologies with adequate safeguards to improve credit risk assessment.

The report further encourages governments to design innovation support programs that span the business lifecycle, including public and private incubators and accelerators. Greater collaboration between industry and academic institutions is also recommended to support technology transfer and development.

A Roadmap for Growth

“The launch of this publication comes at a pivotal moment for our region. It underscores the crucial role of the private sector in driving national growth and development. By identifying key challenges and offering regional solutions and policy recommendations, it aligns with IDB Strategy+ and the pillars of our One Caribbean regional program,” said Anton Edmunds, IDB General Manager for the Caribbean Country Department. “This is not just a book; it’s a roadmap filled with regional messages and country-specific insights to promote more sustainable economic development within the Caribbean.”

The report uses data from the Innovation, Firm Performance, and Gender Issues in the Caribbean (IFPG) Firm-Level Survey, sponsored by Compete Caribbean in 2020, offering a comprehensive look into the hurdles Caribbean firms face and potential policy-driven solutions.

As the region seeks to reinvigorate economic growth post-COVID-19, the IDB report underscores the need for a stronger private sector and improved business environment. Between 1960 and 2019, the Caribbean region experienced an annual growth rate of just 1.47%, lagging behind the 1.94% rate in Latin America and well below the global average for middle-income countries.

The report’s recommendations offer a roadmap for fostering a more dynamic and resilient private sector, which is vital for accelerating the Caribbean’s long-term economic growth and development.