LOréal USA has announced the sale of Carol’s Daughter to an unnamed independent beauty entrepreneur. The brand will now resume operations under the leadership of its founder and new President, Lisa Price. The nameless entrepreneur has a notable career history, expanding several beauty brands, such as Ambi, AcneFree, Baxter of California, and Dermablend.
LOréal USA selling Carol’s Daughter
This new move highlights L’Oréal’s belief in Price’s leadership and the new partner’s ability to honor the brand’s heritage, values, and commitment to its loyal customers.
“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,” David Greenberg, CEO, L’Oréal USA said in a press release.
Lisa Price building Carol’s daughter
Price founded Carol’s daughter in her Brooklyn kitchen in 1993 and L’Oréal USA acquired it for an undisclosed sum in 2014. The brand’s distribution significantly increased from around 3,000 doors in 2014 to a broader audience, which expanded into Canada.
Speaking to WWD, Price said “I have all the feelings at the same time, because there’s definitely excitement about being independent again, but L’Oréal has been so great. There’s sadness that these people that have become like family in the past 10 years, some of them I won’t be seeing on a regular basis.”
Admittedly, Price shares that she wasn’t sure if her whole team would join her through this transition: “People will be given the option because some people come to work at a company like L’Oréal because they want to work at a big beauty company. They want to have a career that spans from hair to makeup to skin care, and they may not want to come and work for an independent brand,” she said.
Image: Timothy Smith
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