Source: Andrew Toth / Getty
Carol’s Daughter has been through multiple changes throughout its time as one of the most popular and beloved hair care brands for women of color — and another change is on the horizon, as the company has just been sold.
After acquiring the brand in 2014, founded by Lisa Price in Brooklyn, New York, back in 1993, Price announced that Carol’s Daughter has officially been sold to an independent entrepreneur, according to a report from Business of Fashion.
In an Instagram video sharing the news, founder Lisa Price got fans excited for what’s to come. “This next chapter? It’s bolder. It’s fearless. It’s about innovation that doesn’t just follow trends but sets them,” she said.
Most importantly, it’s about deepening our commitment to you, the community that built us, to every person who has ever believed in me, to those of you who have rocked with Carol’s Daughter from day one.”
“The brand will now begin a new chapter under the leadership of its founder and new President, Lisa Price, alongside an independent beauty entrepreneur with a proven track record of acquiring and growing beauty brands, including Ambi, AcneFree, Baxter of California, and Dermablend,” L’Oreal said via press release.
L’Oreal USA CEO, David Greenberg said the company is “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. We are confident that, with Lisa Price as President and the support of its new partner, Carol’s Daughter will continue to thrive for years to come,” Greenberg added.
The company said that it is working behind the scenes to ensure a “seamless transition” for customers as Carol’s Daughter enters a “new phase.”
L’Oreal USA also extended gratitude to the Carol’s Daughter team for their hard work throughout the years.
Fans reacted excitedly to the news throughout social media, citing the brand’s return to independent ownership following acquisition by a large conglomerate.
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