Carol’s Daughter Sold to L’Oréal

CAROLS DAUGHTER SOLD TO LOREAL (1)

Carol’s Daughter, the beauty brand started by Lisa Prince almost two decades ago in her Brooklyn kitchen, has been purchased by cosmetics giant L’Oreal.

In a press release issued late last night, Frédéric Rozé, President of L’Oréal U.S.A., said “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. 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.”


Lisa Prince also issued a statement: “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. 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.”

Rumors of the company being acquired first started flying earlier this year when five of the brand’s stores were suddenly closed. It was also discovered that the brand had filed for chapter 11, a move designed to help the company restructure financially.

Ordinarily I would be against such a move, as the selling of a black owned company usually leads to the hiring of fewer black folks and more white folks. However, given the state of the company’s finances, reportedly $1 million in assets and $10 million in debt, I don’t fault Prince for doing what she did in order to salvage her brand.

Carol’s Daughter made a huge expansion some years back with the financial backing of people like Jada Pinkett Smith, Steve Stout and others. However the brand may have lost fans when it started taking the dreaded multi-cultural route in order to attract a more customers.

Whatever the case, Lisa Prince is now an employee at the company she started, and Carol’s daughter, like Carson Soft-Sheen is now owned by The Man.

I suspect in the next decade there will be no black owned hair care companies and the final vestige in which we were able to own something and hire our own people will be gone.

5 Comments

  1. Congratulations to Lisa, she did what she had to do to keep afloat and ensure the company she started in her home remained successful. Lisa made several moves to expand her brand and position it in the mainstream (to her detriment); she should be commended for her success. I do wish her product line well.

    Critique: Let me start off by saying there is no other group in this world that is more loyal than BLACK WOMEN. We can help people get elected, like Barack Obama, and others. We can keep artists selling records and concerts sold-out. We are the bread winners in most of our families and we are a Billion dollar collective spender. When you intentionally or unintentionally alienate your black female consumer whom helped you grow, we go elsewhere. L’Oreal (French co.) doesn’t have the best reputation when it comes to supporting black consumers or employees. I support local Black Women or Black Companies who make natural black hair products and I will continue to do so. We cannot continue to spend our hard earned dollars and watch them line the pockets of the fat cats, who don’t give back to our communities. I have supported Carol’s Daughter in the past, however I have found that some of the products lately were not agreeing with my “type 4a” hair. LOL… I’m not sure if I will continue to support. Matter of fact it’s highly unlikely.

  2. Kim, no truer words have ever been spoken.
    Let me also add that bigger is not always better. Had Lisa stayed “small” and stuck to her core principles and the audience that put her on the map, she would still have a company today that made her hundreds of thousands of dollars, rather than millions. Trying to “crossover” and become “multi-cultural,” which is code for NO BLACK WOMEN ALLOWED, cost her the loyalty of customers who helped put her brand on the map. Now she is like the author said, an employee rather than a BOSS. Both Loreal and Revlon have long histories of running smaller cosmetics brands out of pharmacies like Walgreens, CVS and Rite-Aid. Astarte, the best black make-up brand ever said Revlon forced them out of Rite-Aid stores. Telling the stores they could not carry both their brands. These companies are monsters and eat up their competition. Loreal also now owns NYX. Any brand that comes out and is sold in small stores get bought up by the big guys. Sad to see Carol’s Daughter go down the same road.

  3. Steve Stout and his multi-cultural/multi-racial campaign doomed Carol’s Daughter. Why he was made chairman of a company that made natural products for natural black women is beyond me. Men like him aren’t into sistas and definitely not those who have chosen to go natural. I saw the writing on the wall with that racist campaign they ran with Solange, Selita and Cassie. Good riddance I say. They no longer wanted black women’s money anyway.

  4. I agree with all the comments. I knew this was coming when Lisa tried to cross over to multi-cultures. When she first started selling her products on HSN the models were all black and now you may see one or two and the others are allwith the exception of one black model all other are caucasian.

  5. I love the comments here. I also blamed Steve Stout for that ridiculous campaign.I agree too that Lisa going multicultural was to her detriment. When they could have done what Pantene and other brands do and do a separate line and sold that one for cash flow. That whole multi-cultural becoming a separate race didn’t work, too confusing and unreliable (establishing identity). I looked at the company differently from that ploy. I wish Lisa the absolute best with her next chapter. Everything is owned by a few corporations, sadly. Ebony, Fashion Fair Cosmetics, Dudley’s and Bronner’s are some of the few black cosmetic companies left. Sometimes it seems like we’re going backwards instead of forward, collectively.

Comments are closed.