Oct. 21: The Daily MOC Rundown, Carol’s Daughter Now Owned By Loreal

Well well well, what a difference a couple of years can make. From a commenter: “More team comments about selling Black owned corporations to white owned businesses. Jeez when are you ‘multi-cultural’ we are the world simps going to wake up and understand it’s about passing down legacy that you control and wealth down to the next generation of Black People. Your goal should not be just to do all the hard work of making a business and then selling it out.

Then they slipped in the bs about how the current team will be kept in place. Every last one of you that has worked in corporate America knows that is double speak for wait until they train their white replacements. The main issue with the African American Community is that no Black person can go to another Black person for a job. Do you honestly expect to walk into a L’Oreal factory or business and see a bunch of people looking like you getting a paycheck.

L’Oreal has been around for such a long time because the people who own it know how to pass their business down to the next generation. The great great great grandchildren of L’Oreal will never have worry about a job, income or their parents telling them some old tired Black parents ‘I came up from the bottom with nothing and so should you’. But then what do you expect from a Black website geared toward Black women that is owned by white people.

Instead of having an honest open conversation about Black Economic empowerment they usually delete comments they don’t like when it points out their bs. One of the main reasons Carol’s Daughter was so popular was because it was Black owned, how do you forgot to mention that in the article. Oh right. Hopefully some up and coming Black Woman will take this as an opportunity to take over this vacuum in the market and provide a quality Black Owned and operated product for Black Women and stop giving our money away to people who don’t like us.”

Carol's D

“NEW YORK, Oct. 20, 2014 /PRNewswire/ — L’Oreal USA announced today 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 Frederic Roze, President and CEO of L’Oreal 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’Oreal USA’s roster of American brands which includes Maybelline NY, Kiehl’s, Essie, Urban Decay, Clarisonic and NYX.” (Street Insider)

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1 Comment

  • Reply Chris I

    I too think that black owned businesses should stay just that,black owned. Its about pride in ownership and keeping it in the family.

    October 21, 2014 at 4:49 pm
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