Fashion and Beauty Leaders Recognized for Social Impact at FIT Summit

The Social Impact Summit, held at the Fashion Institute of Technology (FIT) in New York City, celebrated leaders in philanthropy on Monday. The event, which marked its first time in the city, featured discussions from major companies like LVMH, Estée Lauder, and MAC Cosmetics regarding their social impact initiatives.

The Social Impact Fund presented two significant awards. Designer Kenneth Cole earned the 2026 Award for Excellence in Fashion Philanthropy. Selena Gomez was posthumously honored with the 2026 Excellence in Beauty Philanthropy Award, accepted in absentia.

Kenneth Cole: Integrating Purpose into Business

Kenneth Cole was recognized for leveraging his brand and platform for over four decades to address critical public health issues, including HIV/AIDS and mental health awareness. In 2020, Cole established the Mental Health Coalition based on the belief that mental illness touches everyone.

Upon receiving his award, Cole stated, “It’s an honor but I don’t think social impact is what we do, it’s part of who we are. It’s embedded in the business model.” He suggested this approach represents the most sustainable business model available today.

The Power of Provocative Messaging

Cole later discussed integrating social causes with Michael Atmore, editor in chief of WWD, emphasizing the use of humor to convey serious messages. He noted that addressing what is on people's minds, not just their bodies, creates a more meaningful and sustainable connection.

Cole recalled his early work addressing the stigma around AIDS, partnering with Annie Leibovitz and celebrity models to discuss what others avoided. “It changed the man, changed the brand, it changed everything we do,” he reflected.

He acknowledged that creating backlash through provocative messaging can be beneficial, estimating that supporters often outweigh critics who voice opposition. Cole admitted that such campaigns might be harder today due to the amplified noise from an “effective minority” and bots.

Shifting Focus to Mental Health Advocacy

Cole transitioned his focus from HIV/AIDS to mental health six years ago, arguing that mental illness affects everyone, directly or indirectly. The Mental Health Coalition aims to change the culture and narrative by providing tools for vulnerability and empathy.

The coalition has successfully engaged major tech companies, including Meta, TikTok, Snap, and Google, to adopt the first SOS safe online standards. Cole also mentioned that the business relies heavily on community support and academia.

The Social Impact Fund also granted $10,000 to the Mental Health Coalition and $10,000 to Selena Gomez's Rare Impact Fund.

Selena Gomez and Rare Beauty: Mission-First Beauty

Selena Gomez founded Rare Beauty in 2020 with an immediate mission focus, launching the Rare Impact Fund concurrently. The fund has since generated over $30 million to support youth mental health, partnering with 30 nonprofits and reaching over 3.5 million young people annually.

Jenny B. Fine of Beauty Inc and Elyse Cohen, Chief Impact Officer for Rare Beauty, accepted the award on Gomez's behalf. Fine highlighted Gomez's commitment: “What’s striking about this is that she made that decision before even launching one single solitary product.”

Building Impact Into the Brand DNA

Cohen explained that Rare Beauty was built to counter unrealistic standards prevalent in the beauty industry. “Instead of retrofitting a mission after a business, it was really about making this bold commitment from Day One,” she stated. The commitment included donating 1 percent of all sales to the Rare Impact Fund.

Impact is integrated across the entire business, from product development to community engagement. The brand created an online community called “Rare Chats” during the pandemic for open dialogue.

Cohen confirmed that the fund is making significant progress toward Gomez's commitment to mobilize $100 million. Furthermore, the brand hosts Rare Beauty Mental Health Summits, livestreaming experts to provide tangible mental health resources alongside product access.

Gomez's Advice for Young Creatives

In a written response shared with the audience, Gomez addressed young creatives regarding pressure and identity building in the public eye. “Owning your life doesn’t mean having it all figured out. I definitely didn’t, and honestly, I still don’t,” she wrote.

She cautioned against the pressure to constantly hustle or monetize every aspect of life. Gomez advised creatives to “protect your joy early. It sounds soft, but it’s actually the most strategic thing you can do. And take your mental health seriou...”