The Social Impact Fund (SIF) and the Fashion Institute of Technology (FIT) Foundation have announced the 2026 Social Impact Summit x NYC, set to take place March 30 at FIT.

This year focuses on the intersection of fashion, beauty, and purposeful advocacy, and will honor two leaders whose work exemplifies how creativity and commerce can be mobilized in service of systemic change: CFDA member Kenneth Cole and global artist, entrepreneur, and philanthropist Selena Gomez.

Cole, who receives the Excellence in Fashion Philanthropy Award, has demonstrated for more than four decades that fashion is not merely a cultural force but a civic one. From his early advocacy during the HIV/AIDS crisis in the 1980s to the founding of The Mental Health Coalition in 2020, Cole has consistently leveraged his brand’s platform to confront stigma and spark dialogue around urgent social issues.

A longtime CFDA member and industry leader, Cole has built a blueprint for brand activism that merges business and philanthropy as interdependent forces. His work in mental health advocacy—particularly through The Mental Health Coalition—continues to elevate awareness, encourage transparency, and promote open conversation at a time when national need remains acute.

“I have always believed that business and philanthropy are not independent; they are in fact interdependent,” Cole shared in advance of the summit, an ethos that mirrors the broader shift across American fashion toward responsibility-driven leadership.

Selena Gomez will receive the Excellence in Beauty Philanthropy Award in recognition of her transformative work through Rare Beauty and the Rare Impact Fund.

Since its launch, Rare Beauty has pledged 1 percent of all sales to expand access to youth mental health services, with a goal of mobilizing $100 million globally. In just five years, the Rare Impact Fund has raised more than $30 million, supporting 30 nonprofit organizations, including The JED Foundation, The Trevor Project, and Didi Hirsch Mental Health Services, reaching millions of young people worldwide.

The summit’s framework is guided by a distinguished advisory group that includes CFDA CEO and President Steven Kolb, alongside industry leaders such as CFDA member Tracy Reese.

Reese will also appear as a confirmed speaker on the Sustainability and Impact Mandate panel, bringing her longstanding commitment to ethical production and community-based design into conversation with corporate leaders and changemakers.

Additional panelists include Nicola Formichetti of MAC Cosmetics, LVMH’s Corey Smith, and Jillian Mercado, among others, with a reception to follow.

As American fashion continues to expand its role beyond aesthetics toward accountability and advocacy, the recognition of Kenneth Cole and Selena Gomez underscores a shared truth: the most enduring brands are those that stand for something.