In partnership with Kiva.org, FITE will focus on strengthening women's access to microfinance capital, providing small loans that can help them start or grow a business. Working with low-cost, reputable lending institutions in 53 countries, Kiva will operate as Dermalogica's on-the-ground field partner, identifying entrepreneurs and ensuring funds are properly dispersed, tracked, and re-loaned to additional entrepreneurs. Dermalogica will work with Kiva to raise awareness of the power and importance of fostering women's financial independence through a global FITE website, videos and print pieces that will provide opportunities to learn more and get involved. Dermalogica will also offer specially marked FITE products (the best-selling Dermalogica products) at no extra cost to the consumer, merchandise and engagement activities to actively engage the public to direct Kiva.org loans to women entrepreneurs around the world. When consumers purchase FITE products, they will receive a gift card, redeemable via the joinFITE.org Web site, to direct a small loan to the entrepreneurial project of their choice. Dermalogica has committed to fund the entire FITE program, both for the .00 designations toward individual microloans, as well as for the larger education program with Kiva. The full .00 amount is applied to the microloan, with no funds taken for fees, administration or handling. To facilitate the program, Kiva will consolidate redemptions into loan increments and follow up with an email introducing the recipient and her business once the loan has been funded. Once the loan recipient has gotten her business up and running and the loan is repaid in full, it can be re-loaned at full value, allowing the funds to help entrepreneurs around the world for years to come, with no depreciation from fees.
FITE will leverage Kiva's global network of 120 microfinance institutions (MFIs) in 53 countries, its unique program of Kiva Fellows (volunteers working on-the-ground with MFIs), as well as its own partnership management staff to monitor and evaluate the program. Loan officers at each MFI will conduct regular, visits to FITE women entrepreneurs to monitor progress, disburse payments, and collect repayments. The MFIs are in turn monitored by local Kiva staff in the field and via site visits. FITE will also harness Kiva's network to collect quantitative and qualitative data to evaluate the program's success. Kiva will conduct quantitative surveys to measure the extent to which Kiva's MFI partners have the strategies, systems, and processes in place to best serve the communities they purport to serve. Kiva will also collect qualitative data in the form of repayment updates, text journals, and video journal updates, and mini-documentary videos that will tell the story of of what happens to the women who receive loans to improve their businesses.
An integral aspect of the FITE commitment is that it allows consumers to choose where they direct their donations, thus actively engaging the public in meaningful citizen philanthropy. Women entrepreneurs are chosen to receive loans based on the industries and countries identified directly by consumers on the FITE Web site. FITE is poised to achieve maximum impact, both in terms of awareness-raising, helping women entrepreneurs start and grow their own businesses and giving them the means to achieve financial independence. The FITE commitment initial target is to provide at least 25,000 women in the developing world loans through the first two years of the campaign, with projected targets and impact likely to be much greater. Assuming a 30% redemption rate, an initial 25,000 women in the developing world will receive loans to start or grow their businesses. Assuming a 100% redemption rate,, given the reloan effect over the next five years, FITE would generate .1 million in total loans to 85,000 women and potentially impact 426,000 lives. Considering the fact that there will be at least 1.5 million FITE products in circulation by next fall, projected impact would be tripled at .3 million in total loans and at least .6 million by the end of 2012. Additionally, Dermalogica's network of skin therapists and consumers in 60 countries around the world are projected to engage over 3 million people per week in dialogue about FITE and the importance of investing in women. Dermalogica is deeply committed to helping an unlimited number of women in the developing world achieve financial independence and is prepared to devote additional funding, resources, and innovation to the FITE program to surpass initial targets and projections.
Over the last 25 years, Dermalogica has helped more than 25,000 women thrive as salon owners, and those salons in turn employ more than 75,000 skin therapists worldwide. The skin care industry is the largest global employer of women entrepreneurs and is an industry dominated by 96% women, with clientele and support provided primarily by women. Jane Wurwand, Founder of Dermalogica, is a leader of the Skin Therapy Profession and is passionate about fostering women's financial independence through entrepreneurship. As a woman who was not able to get a loan to start Dermalogica in 1986, Jane knows first-hand how difficult it can be for a woman to access the opportunities, support, and resources she needs to realize her dreams and achieve financial independence. Now, as a leading woman entrepreneur in the skin care industry, Jane is proud to offer other women countless opportunities ranging from continuing education to self-employment and business ownership. After helping 25,000 women skin therapists achieve financial independence, Dermalogica and its therapists are eager to multiply this impact for another 25,000 women in the developing world. This commitment seeks to build on the potent platform of women helping women to amplify the issue of women's empowerment and entrepreneurship and create tangible on-the-ground change for women in the developing world.
Laufer Green Isaac (LGI) is an award-winning strategic marketing communications firm that has been a leader in positioning social issues, global corporate citizenship, and strategic philanthropy for over 20 years. The agency works with leading companies and NGOs in the girls and women space to position adolescent girls and women as the world's greatest untapped resources for economic prosperity and economic growth in the developing world. As a woman entrepreneur on the global landscape, CEO Jessica Laufer leads the Laufer Green Isaac team with expertise and passion. LGI will play a pivotal role in achieving the targets of this commitment by leveraging strategic communications through a global campaign to build broad consumer awareness of the significance of women's financial independence and the value of joining the FITE.
Kiva's progressive approach to microfinance has pioneered a global platform in citizen philanthropy, connecting lenders and borrowers in 119 countries across the globe. Kiva's singular focus on empowering entrepreneurs globally is unique to the industry, and has created a true movement of citizens interested in personally directing their philanthropy to an individual in need. Over the past 5 years, Kiva has loaned over in capital, to 82% women borrowers. Kiva will leverage its expertise in microfinance and online lending platforms to build a multi-language FITE Web site that allows for worldwide participation and communication, to launch the FITE education campaign, and to provide operational support, monitoring, and evaluation to FITE.
10x10 is a 501(c)3 organization launched by The Documentary Group, an award-winning group of producers and directors who were the team behind Peter Jennings' documentaries at ABC News. The Documentary Group creates non-fiction of the highest quality to reach the broadest possible audience. 10x10 is a groundbreaking film and a global social action campaign that will use the power of film to compel action by telling the most compelling narratives that need to be heard right now - the stories of 600 million adolescent girls in the developing world. 10x10 will leverage its production, content, media visibility, and Web site to advance FITE's goals.
Timeline: October 1, 2010: www.joinFITE.org <http://www.joinFITE.org> goes live; November 15, 2010: FITE public education campaign launch; January 6, 2011: FITE global launch; Nov/Dec 2011: First year culmination events and year 2 announcements
Deliverables: multi-language FITE Web site, FITE products (over 1.5 million), merchandise and engagement activities, stakeholder marketing, education materials and toolkits (including extensive training on FITE to 75,000 Dermalogica professional skin therapists and International Dermal Institute curriculum integration), public education campaign, FITE videos, culmination book
This new 2010 Commitment to Action complements another made this year by 10x10, Intel, Dermalogica, and Laufer Green Isaac. 'Connect the Dots. Educate Girls. Change the World.' will be mutually reinforcing to this initiative, as all partners' distribution and marketing networks will be fully leveraged. The synergy between these two commitments will serve to create even greater impact and reach.
The economic empowerment and financial independence of women is one of the greatest drivers of sustainable poverty alleviation in the developing world. Financial independence assumes that one has sufficient, sustainable income to support him/herself without outside support. According to research by the Women's Entrepreneurship Development Trust Fund, the UN's Children's Defense Fund, and UNIFEM, women's economic empowerment raises the living standard of entire households because women are less likely to spend income in a non-productive manner. 'Lending to women produces a positive ripple effect of improved health, education, and welfare for all household members.' Expanding the economic assets of women is pivotal to realizing the Millennium Development Goals and, according to former UN Secretary General Kofi Annan, 'there is no tool for development more effective than the empowerment of women.' And yet, investments in women are not being made. Women are traditionally more likely to be denied a loan by a bank and often face high levels of financial discrimination. More than 70% of people who live below the poverty line are women.
Dermalogica and Kiva understand the important role that entrepreneurship and economic empowerment play in helping women lift themselves, their families, and their communities out of poverty. They see tremendous potential to make a significant global impact by filling the gap between what women are capable of achieving and what they need to set this change in motion. Given a small loan to start her business, a woman is highly likely to repay that loan (loans to women have an average 96% repayment rate), and to use her business profits to benefit her family. Dermalogica and Kiva.org aim to give thousands of women in the developing world a 'hand up' instead of a 'hand out' because they have seen firsthand the incredible multiplier effect of change that happens when a woman has a sustainable trade. Dermalogica has committed to fund the entire FITE program, inclusive of the FITE education campaign, a ,000 donation to Kiva to establish the program, and a number of mechanisms for participation worldwide such as a FITE Web site and designated FITE products.
Additionally, in the Monitor Institute's 2009 study 'Investing for Social and Environmental Impact,' the authors cite the following as one of the factors that could enable impact investing to succeed: 'impact investment becomes a popular retail consumption experience tied to brand and social networking (e.g., Kiva, microplace).' According to Kiva, the FITE commitment is game-changing in that it is the first consumer-facing partnership with a leading brand to have multitudinous impacts on user acquisition, loan volume, public education and donations to Kiva. For the first time ever, innovative technology will bridge the offline and online worlds, Kiva will be experienced through a global offline retail experience, broad issue awareness will be achieved, and there will be reverberating effects for women entrepreneurs around the world for years to come.
SEEKING: JoinFITE is actively seeking committed corporate partners. joinFITE is a high-value corporate engagement opportunity around girls and women's empowerment with direct, turn-key or individually customized ways for partners to extend their girls and women's initiatives, elevate their CSR work, engage their workforce and consumers, and build brand equity. This can include a range of partnership opportunities including: point of purchase consumer engagement or redemption of joinFITE codes on products, distribution of joinFITE codes online for incentives or acknowledgment (employee/consumer programs), philanthropic investments to fund women entrepreneurs directly through joinFITE, and joint- and cross-promotion through social media, cause-related marketing, advertising and speaking opportunities.
JoinFITE corporate partners are recognized on the joinFITE website, included in the public education campaign, social and mainstream media, and FITE materials, newsletters, and public events and receive access to joinFITE tools including the skew code system, borrower stories, education materials, and content for their websites. Please contact Jessica Laufer at [email protected] or [email protected] for more information on joinFITE corporate partnerships.
OFFERING: Financial Resources, Implementing Partners
Dermalogica is interested in partnering with other organizations that are investing in girls' and women's education, financial independence, and skill building.