Posted by | Ray Cornelius
ESSENCE is reporting that cosmetic and beauty giant, L’Oreal USA has acquired Carol’s Daughter.
According to L’Oreal USA President and CEO Frederic Roze, “Carol’s Daughter possesses an expertise in the multi-cultural consumer segment, a rapidly expanding market that represents an important growth in the beauty industry. This acquisition will…strengthen the company’s position in this dynamic market.”
Carol’s Daughter is a health and beauty brand trusted by African-American women for over 20 years. Founded in 1993 in Lisa Price’s kitchen, Carol’s Daughter has been on the cutting edge of the natural hair movement and was represented by several celebrity spokes models including Jada Pinkett Smith, Mary J. Blige, Solange and Cassie. Price said in a statement that she is absolutely thrilled about the new partnership.
“I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L’Oreal USA,” she said. “L’Oreal has a proven track record of helping established companies achieve their full potential while staying true to the core of the brand…I know my mother (Carol) is smiling as well.”
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