African-American consumers are actively seeking out Black-owned companies and experiences amid global Black Lives Matter protests. But little did many know, some of their favorites aren’t solely Black-owned. This was the case when a tweet discussing hair care lines went viral Tuesday (June 9th).
Women were so shocked that natural/curly-centered brands like Carol’s Daughter and Cantu weren’t Black-owned that they trended on social media. Carol’s Daughter founder, Lisa Price, sold her company to massive beauty distributor, L’Oreal, in 2014. A few Twitter users pointed out that businesswomen sell their companies in favor of gaining a larger audience all the time.
In 2017, Lisa Price discussed the backlash she received when she sold the company:
“There was a good 2 to 2 1/2 years of work that went into making that exit happen. And L’Oreal was the company that was on my vision board from day one. I’m extremely proud that I was able to do that. From a person who built something at her kitchen table, standing on her feet for days and days and days, selling at festivals, being at ESSENCE in 2004…it shifts, and it adjusts, and it’s a good thing.”
However, a few social media users added that when Black-owned companies sell to larger ones, it becomes apparent in the products’ formulas.
Are you disappointed that Carol’s Daughter is no longer owned by Lisa Price? Let us know in the comments.
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