Kenneth Cole and Selena Gomez were honored at the 2026 Social Impact Summit, the first time the Social Welfare Fund has focused on fashion and beauty philanthropy, where speakers and presenters shared insights on topics ranging from the importance of creative diversity to why college isn’t the only way to get a job in the industry.
Former 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 Clothing Everyday, in front of an audience full of VIPS, students from the Institute of Fashion Technology and fashion and beauty working in the FIT theater.
In 1985 – more than 40 years ago – Cole launched a very clever advertising campaign to support HIV/AIDS research and charity. He was the first fashion personality to launch a full-fledged philanthropic advertising brand, which led to many others.
“When I first started,” Cole told Atmore as part of an on-stage question, “AIDS was already widespread, but no one he was talking about it. I don’t think we would have started this today, in the age of social media. There are many words; very noisy; we would not have stood out. In addition, bots control a lot of things that happen there. But in the 1980s and 1990s, advertisements gained more attention; it helped launch the whole concept of business and fashion philanthropy.”
One billboard for Kenneth Cole shoes read: “It’s not just who you are, it’s what you stand for.”
“It’s always been my goal here to inject humor into the campaigns,” Cole said. “I don’t think of myself as very important people – but I take what I do seriously. … I eventually gave up helping AIDS organizations with money to go to mental health efforts. There’s a whole mental health problem in this country; I thought it was time someone tried to do something about it.”
Elyse Cohen, chief operating officer of Rare Beauty Cosmetics, accepted the Excellence in Beauty Philanthropy Award for Rare Beauty makeup artist Gomez, who had a huge following in the audience, as you can imagine, but was under the weather and unable to attend. Awarded by Jenny B. Fine, WWD status editor-in-chief, beauty.
“This award is really appropriate for Selena because when she launched Rare Beauty in 2020, she made an extraordinary commitment to donate 1 percent of all sales to the Rare Beauty Impact Fund,” Cohen said. “Selena is here always mission first and foremost; that’s how the business was built. The beauty industry is built on hiding what makes you unique. Selena did not believe in these standards of perfection. When I met Selena, I was overwhelmed by her commitment to the small 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 started the business during the global pandemic. Because everyone was so isolated, it was a good time to start an online community of like-minded people. ”
The Rare Beauty Impact Fund has raised $30 million over six years for the effort, Cohen said. “People say we’re a big brand, but we’re not. But not only are we Sephora, we just got into Ulta, which will help us raise more money for this effort.” Selena made a commitment to raise $100 million, she is very determined about it.
He also informed Rare Beauty Fans that a new product will come out soon from the brand, which is very famous for its vanity: “The new foundation will be in 48 shades.”
Elyse Cohen speaks at the Social Impact Fund and FIT Foundation’s 2026 Social Impact Summit at the 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 famous FIT was the perfect 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 are a national non-profit organization dedicated to making humanitarian access successful. We are a local center for non-profit organizations that do not need a tax structure. And, as the great Robert Redford once said, ‘The glory of art is that it can not only survive, it can lead. He knew that the method will not live without something.”
The first of three panels was moderated by fashion director and 2013 FIT Lifetime Achievement Award winner Fern Mallis. Called “Trailblazers of Fashion and Beauty in Philanthropy,” it featured three heavyweights in the field: M·A·C Cosmetics senior vp/global creative director Nicola Formichetti, known for his work as creative director of the brand Diesel, of the Mugler brand and numerous collaborations with Lady Gaga. When it comes to philanthropy, he explained, “M·A·C goes beyond the mark: It created Viva Glam, a lipstick that raises money for charity. MAC launched new T-shirts with a statement and matching lipstick.
Taryn Bird, executive director, social impact at Kate Spade New York, explained how the company started working in 2013 with a women’s group in Rwanda that has already built 300,000 bags for the brand – and continues to do so. Kate Spade has also created a fund to donate to mental health issues.
Panelist Sam Di Spicio, vp of corporate communications at Macy’s, recalls how the retail giant launched a program in 2022 called Mission Everyone to increase its philanthropic efforts and programs.
This author was the moderator of the next panel, “The Importance of Creating Diverse Creative Relationships,” with panelists Corey Smith, vp diversity and inclusion and academic relationships at LVMH; Randy Cousin, global vp collaboration and VIP styling at Tommy Hilfiger; and model/athlete and diversity advocate Jillian Mercado. As a group, they gave advice to students and designers in the young fashion / beauty business: Don’t think you don’t have a place – explore every opportunity. Work with like-minded designers to come together to change the mindset of the company – and, especially, said Smith, “Not everyone has to go to college to be in this industry. There are many roles in a place like LVMH – technical jobs, sewing jobs, drawing jobs – they need special schools but not college – which is very cheap that many young people can’t do.”
Former fashion and women’s magazine editor Cindi Leive moderated the panel on “The Impact Mandate: From Niche Trend to Consumer”; featured Tracy Reese, designer, founder and CEO of Hope for Flowers by Tracy Reese and Artisan Studio; Nancy Mahon, chief operating officer at the Estée Lauder Companies; and Rohit Burman, global head of PVH integration and operations at Calvin Klein. The discussion focused on: How do you create products and clothes with a single concept and look and take them to the world? Of course, social media was a big answer – but then again, the word of the day, “brand truth.” It’s not a word people usually associate with fashion or beauty – but that seems to be changing with more emphasis on society.
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 Awardees); and Delta Air Lines, the official airline of the Social Impact Fund.
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