Kenneth Cole and Selena Gomez were honored at the 2026 Social Impact Summit, the first outing of the Social Impact Fund to focus on fashion and beauty philanthropy, where speakers and panelists shared insight on topics from the importance of creative diversity to why college isn’t the only pathway to a career in the industry.
Veteran fashion and accessories designer Kenneth Cole was honored with the Social Impact Fund’s Excellence in Fashion Philanthropy Award by Michael Atmore, editor-in-chief of Women’s Wear Daily, in front of an audience full of VIPS, Fashion Institute of Technology students and fashion and beauty execs inside FIT’s theater.
In 1985 — more than 40 years ago — Cole started a very witty ad campaign in support of HIV/AIDS research and charities. He was the first person in fashion to launch a full-scale philanthropic ad campaign, which led the way for many others.
“At the time I started,” Cole told Atmore as part of an onstage Q&A, “AIDS was already pervasive, but no one was talking about it. I don’t think we could have started this today, in the age of social media. There are so many voices; it’s so loud; we never would have stood out. Plus the bots are controlling a lot of what goes on there. But in the ’80s and ’90s, the ads got a great deal of attention; it helped kick off the whole idea of corporate and fashion philanthropy.”
One billboard for Kenneth Cole shoes read: “It’s not just what you stand in, it’s what you stand for.”
“It was always my goal here to inject humor into the campaigns,” Cole said. “I don’t take myself too seriously — but I do take what I do quite seriously. … I eventually switched from funding AIDS organizations to mental health efforts. There’s a complete mental health crisis in this country; I thought it was about time somebody try to do something about it.”
Elyse Cohen, chief impact officer at Rare Beauty Cosmetics, accepted the Excellence in Beauty Philanthropy Award for Rare Beauty cosmetics creator Gomez, who had many fans in the audience, as you might imagine, but was under the weather and unable to attend. She was presented with the award by Jenny B. Fine, WWD’s executive editor, beauty.
“This award is really so fitting for Selena because when she launched Rare Beauty in 2020, she made the rare commitment to donate 1 percent of all sales to the Rare Beauty Impact Fund,” Cohen said. “Selena is always mission first and truly; that is how the business was built. The beauty industry is set up to cover up what makes you unique. Selena did not believe in these standards of perfection. When I met Selena, I was overwhelmed by her sense of commitment on the underfunded issue of mental health. We started six years ago. … We’ve seen young people come to us not just for beauty advice, but to learn about mental health. We launched the business during a global pandemic. Because everyone was so isolated from each other, it was a good time to launch an online community of like-minded people.”
The Rare Beauty Impact fund has raised $30 million in six years for these efforts, noted Cohen. “People think of us as this massive brand, but we actually aren’t. But now not only are we in Sephora, we just came into Ulta, which will help us raise much more for these efforts. Selena made a commitment to raise $100 million; she’s very serious about it. We went through a rigorous process to vet the right organizations to support. We want to be known as the company who paved the way for causes not historically dealt with through the channel of beauty.”
She also let out to Rare Beauty Fans that a new product will be coming out soon from the brand, which is really known for its blushes: “a new foundation that will be in 48 shades.”
Elyse Cohen speaks at the Social Impact Fund and FIT Foundation’s 2026 Social Impact Summit at Fred P. Pomerantz Art and Design Center on March 30 in New York City.
Jason Mendez/GA/The Hollywood Reporter via Getty Images
New York’s legendary FIT was a fitting home for the 2026 Social Impact Summit, hosted by the Social Impact Fund and the Fashion Institute of Technology Foundation. Craig Cichy, executive director of the Social Impact Fund, opened Monday’s event, explaining what the organization does: “We’re a national not-for-profit organization dedicated to making philanthropic access be efficient. We are the home base for nonprofits that need tax structure. And, as the great Robert Redford once said, ‘The glory of art is that it cannot only survive, it can lead.’ He knew style can never survive without substance.”
The first of three panels was moderated by fashion executive and 2013 FIT Lifetime Achievement Award winner Fern Mallis. Called “Trailblazers of Fashion and Beauty in Philanthropy,” it featured three heavyweights on the subject: M·A·C Cosmetics senior vp/global creative director Nicola Formichetti, who’s known from his work as creative director of the brand Diesel, of the Mugler brand and lots of collaborations with Lady Gaga. When it comes to philanthropy, he explained, “M·A·C is more than a brand: It created Viva Glam, a lipstick that raises funds for charities. We use this platform in new way. This week, we release a new Viva Glam campaign, Protect the Dolls, in collaboration with British designer Conner Ives, who started a T-shirt campaign to raise money for trans rights.” MAC launched new T-shirts with the saying and a matching lipstick.
Taryn Bird, executive director, social impact at Kate Spade New York, described how the company started working in 2013 with a women’s group in Rwanda that has since built 300,000 handbags for the brand — and continues to do so. Kate Spade has also started a fund to donate to mental health issues.
Panelist Sam Di Spicio, vp corporate communications at Macy’s, recalled how how the retail giant launched a program in 2022 called Mission Every One to step up its national philanthropic efforts and programs.
This writer was the moderator of the next panel, “The Importance of Making Diverse Creative Connections,” with panelists Corey Smith, vp diversity and inclusion and academic relations at LVMH; Randy Cousin, global senior vp collaborations and VIP styling at Tommy Hilfiger; and model/actress and diversity rights advocate Jillian Mercado. As a group, they offered advice to students and young aspiring fashion/beauty business creatives: Don’t think there’s not a place for you — examine every opportunity. Work with like-minded creatives to band together to change company’s outlooks — and, most importantly, said Smith, “Not everyone has to go to college to be in this industry. There are many roles at a place like LVMH — tech jobs, tailoring jobs, drawing jobs — they require specialty schools but not college — which is so out-priced most young people will never make their tuition back.”
Fashion and women’s magazine veteran editor Cindi Leive moderated a panel on “The Impact Mandate: From Niche Trend to Consumer”; it featured Tracy Reese, designer, founder and CEO of Hope for Flowers by Tracy Reese and Artisan Studio; Nancy Mahon, chief sustainability officer at the Estée Lauder Companies; and Rohit Burman, global head of PVH inclusion and Calvin Klein sustainability. The conversation focused on: How do you create products and clothes with singular ideas and looks and get them out into the world? Of course, social media was a big answer — but also, the word of the day, “brand authenticity.” It’s not a word people normally associate with fashion or beauty — but that does seem to be changing with so much public emphasis on it.
The Hollywood Reporter was the official media sponsor of the event. Other sponsors included Kate Spade New York (Gold Sponsor); Perlman & Perlman, LLP and Ulta Beauty (Bronze Sponsors); and Delta Air Lines, the official airline of the Social Impact Fund.