B Corp company Rituals launches the 10% Profit Pledge: a new impact initiative in the beauty industry
- Wellbeing beauty brand Rituals announces their Profit Pledge, a new initiative in the industry, committing 10% of net profits – an expected amount of 300-400 million euros the first 10 years alone – to be contributed to causes supporting the wellbeing of people and planet.
- As one of the first B Corps in Beauty, Rituals stands for personal and sustainable wellbeing. With the ambition to become an impact-driven brand, they want to take more responsibility. Rituals is re-thinking the way they want to do business and how it can use its company as a force for good.
- The first projects Rituals supports includes a significant reforestation project in Colombia with a social enterprise called Sacred Forests, and the co-founding and exclusive sponsorship of Super Chill, an organisation dedicated to helping young children develop mental resilience through playful exercises. These initiatives are aimed at creating systemic change to better the balance.
[City, Date] – Wellbeing beauty brand Rituals is proud and humbled to announce their Profit Pledge, a new initiative in the industry, committing 10% of its net profits. On top of its ambitious sustainability efforts, the brand wants to take more responsibility by contributing 300-400 million euros the first 10 years alone – if Rituals’ profits continue to develop in the same way - to causes supporting the wellbeing of people and planet. Rituals is re-thinking the way they do business, making an impact beyond the company and taking a forerunner role in the beauty industry.
Rituals founder and CEO, Raymond Cloosterman: “Rituals is one of the fastest growing luxury beauty brands. We recognize that success comes with responsibility and we want to do more. While we’re one of the first B Corps in the luxury beauty industry, we feel that it’s not enough. We’re determined to use our company also as a force for good. We’re at the beginning of this journey. We’re committed and, who knows, we might inspire others to follow.”
From 2025 onwards, Rituals will be contributing 10 percent of its net profit of the previous year, in causes that create positive impact, namely:
- Sacred Forests, an organization dedicated to the reforestation of an important rainforest that is recognized for its exceptional ecological value, the Sierra Nevada de Santa Marta in Colombia. “Unfortunately, the world today is off-balance and it's up to us all to improve this while we can. I’ll never forget that moment when I saw David Attenborough’s film ‘A Life On Our Planet’. I was nailed to the ground being confronted with the harsh reality” reflects Cloosterman. Rainforests are hugely important in the fight against climate change. Unfortunately, many of them are being deforested. Rituals sponsors an indigenous community in Colombia who live in one of the important rainforests in the world, to help reclaim their land and protect their forest for generations to come. Together they are on a mission to protect 200,000 hectares of land and biodiversity.
- Similarly, the shocking revelations of the UNICEF report struck a chord with Cloosterman, revealing that "Over 166 million young people are dealing with mental health issues, with anxiety and depression making up about 40 per cent of these issues.1" This realization resonated deeply with Rituals' core values. "This is so close to our DNA, we realize we want to do more. Making more impact. The future of children is our future; we must support building their mental resilience." Rituals is supporting Super Chill, a free app that provides kids and caretakers with the tools they need to build mental resilience. The app uses playful exersices, mindfulness, breathwork, yoga and more to teach children how to keep a positive and healthy mindset, especially in moments of discomfort. The goal is to reach ten million children, building a future generation of kids with a healthy and positive mindset.
- Rituals commits to increasing the percentage of its total sourcing budget to produce with suppliers that create social impact. The brand continues to support Tiny Miracles, an organization providing life-changing income, healthcare, and education for communities in Mumbai, India. Rituals is a founding partner and proud supporter of the organization, successfully taking communities out of the poverty cycle.
“We want to contribute to the bigger picture and take responsibility as a company. We are learning to do better every single day. The culture we've created for the company is to never lose our entrepreneurial spirit, and it’s that spirit which compels us to take action not because others tell us to do so, but because we intrinsically believe in doing the right thing” concludes Cloosterman.
1 Figures across the world show that over 166 million young adults are suffering from mental health issues; [UNICEF]