Much-loved multicultural beauty brand Carol’s Daughter has been purchased by L’Oreal USA.
Founded in 1993 by Lisa Price (pictured above) with big name investors like Will and Jada Pinkett-Smith, Carol’s Daughter will now be L’Oreal’s flagship “diverse” product line.
“Carol’s Daughter possesses an expertise in the multicultural consumer segment, a rapidly expanding market that represents an important growth opportunity in the beauty industry,” said Frederic Roze, president and CEO of L’Oreal USA. “This acquisition will enable L’Oreal USA to build a new dedicated multicultural beauty division as part of our Consumer Products business, and strengthen the company’s position in this dynamic market.
“L’Oreal 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 multicultural beauty. I could not be more proud to begin this next chapter of the Carol’s Daughter brand with them,” said Price in a statement.
BossLady.tv has been blessed with the opportunity to work with Carol’s Daughter in the past and we wish the brand nothing but the best.