L’Oréal has officially divested its hair care brand, Carol’s Daughter, transferring ownership to an undisclosed beauty entrepreneur. The company announced the sale on Monday, stating that the new owner has a “proven track record” of successfully acquiring and expanding beauty brands.
Carol’s Daughter is a pioneering hair care brand founded in 1993 by Lisa Price in Brooklyn, New York. Created to cater to the unique needs of curly, coily, and Afro-textured hair, the brand quickly gained popularity for its natural, moisture-rich formulas. Over the years, it attracted high-profile investors like Jay-Z and Jada Pinkett Smith before being acquired by L’Oréal in 2014. At the time, Carol’s Daughter reported net sales of $27 million.
Known for its commitment to inclusivity and empowerment, Carol’s Daughter remains a beloved name in the textured hair care industry.
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David Greenberg, CEO of L’Oréal USA, acknowledged the brand’s influence on the beauty industry, stating, “We are proud of Carol’s Daughter’s long legacy and the transformative impact it has had.” He also praised Lisa Price as a visionary entrepreneur who has championed inclusivity in hair care for decades. Despite the change in ownership, Lisa Price will remain as President of Carol’s Daughter. Greenberg expressed confidence in the brand’s future, emphasizing that with Price’s leadership and the support of its new owner, Carol’s Daughter will continue to thrive in the textured hair care market.
Further details regarding the buyer and the future direction of Carol’s Daughter are expected to emerge in the coming months.
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