Photo Credit: Carol’s Daughter
L’Oréal USA has announced the sale of pioneering haircare brand Carol’s Daughter to an independent beauty company. Lisa Price, the founder of the Carol’s Daughter will assume responsibilities as President and retain an equity stake. The unnamed beauty partner (acquiring the textured hair brand) also owns Ambi, AcneFree, and Dermablend.
The amount of the sale remains undisclosed, but L’Oréal’s CEO David Greenberg has stated, “We are proud of Carol’s Daughter’s long legacy and the transformative impact it has had on the beauty industry; at the heart of this legacy is Lisa Price, an entrepreneur who has always been ahead of her time and has built Carol’s Daughter into a beloved brand that has honored and celebrated women of color for decades.”
Created in 1993, Price launched and grew the company out of Brooklyn, New York, initially selling to L’Oréal in 2014. Carol’s Daughter offers a wide range of natural hair, skin and body products, available through multi-channels: e-commerce, specialty beauty stores, mass retailers, and branded outlets. On her Instagram, Price seemed excited, telling her loyal fan base, “our iconic brand is entering a new chapter.” After the sale agreement, Carol’s Daughter will return to being a completely Black-owned independent brand.
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