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Inspiring! Carol’s Daughter set to be acquired by L’Oréal USA

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Carol's Daughter BN is constantly on the lookout for inspiring stories to share with you. We have followed the Carol’s Daughter story since its humble beginnings as the founder Lisa Price started mixing and creating beauty products at home and then created a great brand targeted at women of colour.

Yesterday, L’Oréal USA announced the signing of a definitive agreement to acquire Carol’s Daughter. Headquartered in New York City, Carol’s Daughter is a premier American multi-cultural beauty brand with a pioneering heritage in the natural beauty movement. Created by Lisa Price in 1993, the brand caters to a diverse, rapidly growing market and has established a loyal consumer following across the country.

Following a multi-channel distribution model, Carol’s Daughter offers a comprehensive range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol’s Daughter branded stores in New York City. For the 12 months ending September 30, 2014, Carol’s Daughter had net sales of US $27 million.

Carol’s Daughter possesses an expertise in the multi-cultural consumer segment, a rapidly expanding market that represents an important growth opportunity in the beauty industry,” said Frédéric Rozé, President and CEO of L’Oréal USA. “This acquisition will enable L’Oreal USA to build a new dedicated multi-cultural beauty division as part of our Consumer Products business, and strengthen the company’s position in this dynamic market.

Carol’s Daughter will continue to operate out of their New York City headquarters under the brand’s current leadership team. This acquisition further enhances L’Oréal USA’s roster of American brands which includes Maybelline NY, Kiehl’s, Essie, Urban Decay, Clarisonic and NYX.

I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L’Oréal USA,” said Lisa Price, Founder and President of Carol’s Daughter. “L’Oréal has a proven track record of helping established companies achieve their full potential while staying true to the core of the brand and they have an understanding of the future of multi-cultural beauty. I could not be more proud to begin this next chapter of the Carol’s Daughter brand with them. I know that my mother (Carol) is smiling as well.

The closing is subject to the standard regulatory approvals and other customary conditions.

15 Comments

  1. benny

    October 21, 2014 at 2:45 pm

    What would have been more inspiring is keeping the company and building it to compete with these big brands. I feel like this is a sellout. Depending on the stakes, they may soon shift you out; happens all the time. How many big black companies do we have left that isn’t white controlled? Feels like a sellout.

    • JT

      October 21, 2014 at 4:34 pm

      Completely agree with you! I echoed the same sentiment below.

  2. Aanu

    October 21, 2014 at 3:05 pm

    I’m tired of reading half-baked articles, and while I didn’t expect such from bellanaija, I can honestly say I’m not surprised. Carol’s daughter is far from the success you painted. Earlier on this year, Lisa filed for bankruptcy. Lisa is selling out to L’Oreal, because she feels she out of options. Carol’s Daughter is an overpriced, over-marketed mediocre hair care line. Lisa forgot her humble beginnings and turned her back on those who made her what she became. Her products became watered down, and she totally shifted marketing strategy, hence the bankruptcy. I dont believe that Lisa will have anymore authority in her own brainchild. L’Oreal is a big company, and would love full power. Next time, bella, tell the full story..

    • BellaNaija.com

      October 21, 2014 at 3:16 pm

      Thanks Aanu for your comment. We love engaging in discussions with our BN fam. The fact that Carol’s Daughters Stores L.L.C. (Not the parent company) filed for bankruptcy does not take away from the success story. Often times, companies have to change their strategic direction due to a variety of reasons. The product sales and brand are still strong, that is why the company has been purchased by one of the major cosmetics companies in the world.

      Whether it is a “sellout” situation as you and someone else raised is up for debate. However, it is still a very inspiring story to us!

    • chi-e-z

      October 21, 2014 at 9:23 pm

      Hmmm…I like the clarifying conditioner and deep repair mask.It seems to work forr my hair and smells minty unlike those heavy stuff people claim 4c hair likes like shea this and that. nope my 4c likes light clarifying products. good for when I fro out, straighten, or braid.

  3. Akos

    October 21, 2014 at 3:37 pm

    I hope SHEA MOISTURE, (Us naturalista go to staple product) do not do this to us, sell our brand to a white man who don’t know shyt about our hair. Good Riddance to carols daughter and more customers to shea moisture. Carols Daughter was overpriced and overrated anyway.

    • Ada

      October 22, 2014 at 7:01 am

      I love shea! I use their baby line for my daughter! Now that you mention it, I wouldnt be surprised! When they bait the carrot, the bunny starts to hop hop hop!

  4. @edDREAMZ

    October 21, 2014 at 3:43 pm

    a.k.a EDWIN CHINEDU AZUBUKO said…
    .
    Thats one big acquisition there though….
    .
    .
    ***CURRENTLY IN JUPITER***

  5. Lady locks

    October 21, 2014 at 4:02 pm

    These comments though? Na wa o.

  6. JT

    October 21, 2014 at 4:33 pm

    Exactly my thoughts! I want to celebrate this but actually can’t because I see it more as a ploy. The acquisition serves well for L’Oreal and increases their pockets because they now have access to a bigger consumer group in the AA section. As for Lisa, forget any control or strategic insight you think you’d be able to offer – your power is gone! Ask the brands who have been acquired under LVMH’s aggressive acquisition strategy!

  7. tunmi

    October 21, 2014 at 5:56 pm

    But why didn’t any of the wealthy black people in the US (shebi they make lists every year of the wealthiest African-Americans), why did none of them save this brand?

  8. Wifey

    October 21, 2014 at 8:08 pm

    Hair care is a multi -billion dollar industry. The past 10 years have see many of African descent researching and cultivating products for our on hair type. the move is profitable for Lisa, but bad for the market she tried to serve. Sad to see the research/work (ultimately profit) done by her and others like her (think napturality, nappygirl) to go outside the community. Then again, she filed for bankruptcy… so maybe she had no choice.

  9. Iya

    October 22, 2014 at 10:13 am

    Hmm…..while I’m happy for her achievement, I can’t help but be slightly worried that Carol’s Daughter will become another Body Shop. Body Shop began as a company that hand-made products using ALL NATURAL ingredients. As soon as it was acquired by a so-called ‘big brand’ (which I think is also L’oreal..hmmm), every standard body shop product is now laden with chemicals. Some (actually A LOT) of these natural products catered to ‘black’ hair are unfortunately too, too, too pricey for the major reason that the natural ingredients themselves are very expensive so I don’t really blame them sometimes for hiking the prices sometimes; just give us quality is all we ask. Maybe now Carol’s daughter has been bought by L’oreal it will become more affordable what with all the cheap synthetic ingredients it may now have..lol

    • sifonde

      October 22, 2014 at 2:04 pm

      My sister, am even afraid so that L’oreal would not contaminate the Carol’s Daughter ingredients i know oh.

  10. sifonde

    October 22, 2014 at 2:02 pm

    hmmmmmmmmm why na?

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