Because You Deserve More
HEALTH, BEAUTY & SPA NETWORK
“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," said Price, who also serves as president of Carol's Daughter. "I could not be more proud to begin this next chapter of the Carol's Daughter brand with them. I know that my mother is smiling as well.”
Lisa Price Founder of Carol's Daughter
L'Oreal USA Acquires NYC-based Multicultural Beauty Company Carol's Daughter
On Monday, L'Oreal USA announced that it has signed an agreement to acquire multicultural beauty company Carol's Daughter as part of its efforts to further tap into the multicultural beauty market.
Founded in 1993 by Lisa Price, Carol's Daughter is an American multicultural beauty company based in New York City that is considered to be a pioneer in the natural beauty movement. Carol’s Daughter will continue to operate out of its New York City headquarters under its current leadership team. As of September 30, 2014, the company had net sales of $27 million.
Successful Women Against All Odds
“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, in a statement. “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 first started in Brooklyn in 1993 in Price's kitchen. She opened the first store in Brooklyn in 1999, and a second store in Harlem in 2005. She named the company after her late mother, Carol Hutson.
In April, companies affiliated with Carol's Daughter filed for Chapter 11 bankruptcy protection. The acquisition by L'Oreal USA appears to be a move that will stabilize the company more financially. Price, who also serves as president of the company, said that the agreement is a new beginning for the company in a video posted on Facebook in which she announced the agreement.
CleeYor Innovations APPLAUDS This Extra Ordinary Buisness Woman & Innovator. We are huge fans and users of Carol's Daughter Products! Love em!
Peace, Love & Much Respect!
Copyright CleeYor.com. All rights reserved. Site Map