All Articles Tagged "carols daughter"
In part one of our interview with Carol’s Daughter founder and CEO Lisa Price, she talked about the financial hurdles her company faced with its bankruptcy filing and the tremendous deal with L’Oreal that will take her products international.
Price continues to bring her honesty and expertise to this clip, part two of our interview. She offers some valuable financial advice to anyone looking to create a powerhouse brand like Carol’s Daughter. Also, learn how she finds inspiration in others and why copycats drive her mad.
Click above to watch and let us know what you think of her advice in the comments.
Lisa Price On Backlash To Carol’s Daughter Sale: “It’s Disheartening To Hear People Blatantly Refer To You As Stupid”
As proud as the Black community has been of Lisa Price’s success with Carol’s Daughter, many had mixed reactions to her sale of the hair care line to L’Oreal following her file for Bankruptcy. Though the major deal will likely only increase the success of Carol’s Daughter and its founder, some looked at Price as a sellout for the business move or, even worse, “stupid.”
We got a chance to chat with Price and she put to bed some of the myths about the closing of Carol’s Daughter’s stores, her Chapter 11 filing and her L’Oreal sale with insight many should find reassuring — she’ll still be in complete control of the brand — and comforting — she and her investors exhausted all possibilities before closing up shops. Take a listen to our interview with the woman who’s making it clear she is and will always be Carol’s Daughter and tell us what you think.
Carol’s Daughter Is Here To Stay! Founder Lisa Price Assures Customers Following L’Oreal Acquisition
Christina Brown, founder of beauty site LoveBrownSugar.com, recently spoke with Carol’s Daughter founder Lisa Price about the L’Oreal acquisition, a business move that has caused some concern among fans who fear the products will be changed as a result. Carol’s Daughter was an inspiration to many as Price literally took a homegrown business and turned it into a corporate giant.
“L’Oreal is the largest beauty company in the world,” Price told Brown. “They have a really great roster of brands that they’ve acquired that I personally believe they’ve taken really great care of. Kiehl’s was a brand that I always looked to when I was a small company, as a brand that I admired… It’s a family-owned brand with its own heritage, in existence for many years and you don’t feel that disconnect. L’Oreal is a place I felt understood what I wanted to do and that would give my ‘baby’ a good home.”
According to Price, her employees will follow her to L’Oreal. And when addressing the concerns that there may be product changes, Price says that will remain the same as well.
“There aren’t going to be any real changes. For me, it’s having access to information and data and people who do things on a global level that I currently don’t have access to. As far as the formulas are concerned, I tell people I’ve used my face creams and hair milk every day since the brand started. I’ve been using them for years! The last thing I want to do is change the formula of something that I’ve been using every day myself for years. And it’s the last thing that L’Oreal wants to do.”
Since the deal announcement, Price has been accused by some as “selling out.” But Price doesn’t see it that way.
“Honestly I think the customers that are loyal to us understand what’s going on and they’re more concerned with ‘I hope you don’t change the products. I hope my favorite isn’t going away.’ My message is clear – that we’re not going anywhere. We’ve been on this journey together and I want you to come along with me because I’m not going anywhere. People who have a more negative view – who are angry who are outraged. I’m not sure how many of them are actually our loyal customers. I’ve actually read some comments like “Well I never used your products anyway”. I understand everyone is entitled to their own opinion. I made choices and decisions that I thought was best for the brand. The brand still has my mother’s name on it. I still feel a responsibility to her and to my family.”
Customers will still be able to buy products at the company’s stand-alone NYC stores in Harlem and in Brooklyn’s Atlantic Terminal Mall.
To read the story in it’s entirety, click through here to LoveBrownSugar.com.
L’Oreal USA announced today that it has purchased beauty company Carol’s Daughter, which will help the company reach a diverse consumer base.
“Carol’s Daughter possesses an expertise in the multi-cultural 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 multi-cultural beauty division as part of our Consumer Products business, and strengthen the company’s position in this dynamic market.”
Carol’s Daughter, which was founded in 1993 by Lisa Price, will continue with its current leadership team, based out of its New York City headquarters.
“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 multi-cultural 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.
In May, Carol’s Daughter announced the closing of five store locations as part of a bankruptcy reorganization. Many at the time questioned the financial health of the company. Price addressed those questions directly in a Facebook post.
“It is important to set the record straight. Carol’s Daughter is still going strong after twenty-one years and the future has never looked brighter. As part of our increased focus on new retail channels, we have decided to close five of our stores. This was portrayed as if we are having some challenges, but nothing could be further from the truth,” she wrote at the time.
“The nationwide Target launch this past March is an opportunity that very few companies receive. I am proud of that. I am also proud and blessed to have valuable partners, like HSN, Ulta and Sephora inside JC Penney. These partnerships have enabled me to distribute Carol’s Daughter in over 2,500 stores and on direct TV which is far beyond the reach of my living room in Brooklyn,” the letter continued.
Today’s sale is subject to the final regulatory approvals. Other financial details are undisclosed.
Carol’s Daughter Isn’t The Only Brand Out There: Natural Hair Companies That Would Love Your Support
The community is still talking about the recent news of Carol’s Daughter bankruptcy. Blindsiding lovers of the natural hair brand, people are scratching their heads over what could’ve happened. While many of these questions won’t be answered, rest assured you can still get all of your favorite Carol’s Daughter products.
While you’ll still want to spend your dollars with Carol’s Daughter, it’s important to highlight other small natural hair brands you might want to consider for your regimen. Now’s a good time to think about throwing your support behind them as well.
Who will you use?
Companies affiliated with popular cosmetics supplier Carol’s Daughter filed for chapter 11 bankruptcy protection yesterday, The Wall Street Journal reports. The filing is in connection to the beauty brand’s efforts to close most of its stores.
The petition was filed with the Manhattan bankruptcy courts by CD Stores LLC, formerly known as Carol’s Daughter Stores LLC—in addition to the individual companies behind Carol’s Daughter stores. In the filing, CD Stores, which is 100% owned by parent company Carol’s Daughter Holdings LLC, reported both debts and assets in the $1 to $10 million bracket.
In the court documents, which were filed by the company’s CFO John D. Elmer, it’s revealed that the brand’s physical stores have shown to be unprofitable since 2010. Prior to the filing, the company shut down all except two of its seven store locations and laid off 29 of its 42 store employees.
According to the filing, Carol’s Daughter Holdings LLC hopes that filing for chapter 11 will help the company to “reorganize and consolidate” its operations. The company continues to sell its products from its Harlem and Brooklyn stores, the Carol’s Daughter website and more than 2,000 other retail stores across the nation.
“Today’s filing in no way reflects the parent company’s healthy financial situation, and is a part of its plan to grow the brand through national retail outlets,” said Carol’s Daughter CEO Richard Dantas in an emailed statement.
Are you a fan of their products?
Earlier today, a rep from the company issued this statement, attempting to clarify that Price did not file bankruptcy. Here’s what they said:
“We are happy to report that Carol’s Daughter did not file for bankruptcy. To focus more attention on our third party retailers we made a decision to close five of our seven free-standing retail stores through a bankruptcy process. Our products will continue to be in over 2,000 independent retail outlets nationwide with more exciting launches to come that we can’t wait to share with you.”
Monday’s Madame is a new column on MadameNoire that highlights inspirational women who are doing great things in black communities around the world. If you would like to submit an inspirational woman for consideration, please send her name, age, location, photo, and a blurb about the work she’s doing to email@example.com.
Location: White Plains, NY
Why she inspires us: Diane Da Costa is a curly textured expert and author of the 2004 book, Textured Tresses, The Ultimate Guide to Maintaining and Styling Natural Hair. Diane’s philosophy is simply, “Textured hair is gorgeous hair!”
With over 25 years in the beauty business, Ms. Da Costa has brought innovative curly styles to the forefront of today’s multi-textured hair movement. Diane’s cutting edge styles have graced the pages of The New York Times, Ebony, Essence British Elle, French Vogue, Heart & Soul, The Source, In Style, Latina.com, O Magazine, Rolling Stone, Sophisticates Black Hair, Vibe, and UPTOWN magazines.
Diane added proprietor to her resume when she opened Dyaspora Salon Spa, the first Aveda Concept salon in New York City, which was the leading textured hair care salon and spa in New York City during the 1990’s. Diane is currently the owner and creative director of SimpleeBEAUTIFUL, a luxury beauty product, hairstyling, and accessory boutique in Westchester, NY. SimpleeBEAUTIFUL Westchester offers clients an opportunity to get expert advice, test, and make informed decisions about selecting products that will achieve the best look, while cultivating healthy hair. The boutique offers a wide range of botanical and organic hair and body products, and is the first boutique to exclusively carry Carol’s Daughter products.
In 2012, Da Costa was named Brand Stylist for Carol’s Daughter and was part of the expert panel behind the Carol’s Daughter Transition Me Beautiful Contest. In this role she develops content for the Carol’s Daughter Transitioning Movement website, devoted to supporting the transitioning lifestyle and helping women of color maintain glamorous and healthy hair.
Follow Her: @DDaCostaBeauty
Facebook Her: https://www.facebook.com/SimpleeBEAUTIFUL2
Check out her website at: http://www.simpleebeautiful.com/
Carol’s Daughter’s Lisa Price On Business: “One Of The Mistakes I’ve Definitely Seen Women Make Is Crying”
The New York Times commemorated the 250 Corner Office interviews featured in its Business section by taking a closer look at the women at the top. Adam Bryant conducted follow up interviews with four women CEOs to get their take on leadership, women (and men) in the workplace, and how we can better equip women for high-ranking positions.
One of the women included is Lisa Price, the founder and president of Carol’s Daughter. The 20-year-old company has thousands upon thousands of devotees who turn to the company for hair and skincare products. But for Price, this is big business and she has some suggestions for how women can join her in corporate success.
On being a leader:
I used to sit at the table but not necessarily at the head of the table, because I felt there were things I needed to learn, and I wanted to be part of the team, and sit with the team.
… Now I sit at the head of the table… I just sort of gravitated there naturally, and that’s where I sit, because what I’ve learned is that, regardless of whatever little skill sets here and there that I might not know really well, I do know this brand better than anybody else.
On the differences between male and female leaders:
What I find interesting is that it’s not across the board, as in, men are this way and women are that way…
What I have noticed is that men can have a real serious debate about something and sound like they’re just going at it, and you think they’re going to walk out of the room angry at each other. And they go get a sandwich, and they’re fine. They don’t take it to heart. Women don’t do that.
And on crying at work:
One of the mistakes I’ve definitely seen women make is crying. And I’m an emotional person. I understand where the tears come from…
However, when you’re speaking to your boss or your manager about an issue, and you’re feeling overwhelmed, crying is not a good thing to do, because you don’t necessarily know how it’s being perceived by the person to whom you’re speaking. I know from personal experience that the stigma never goes away. And you are enforcing a stereotype, unfortunately, that women are weak, and they’re not as tough as men.
To read more from Price and the other women interviewed, among them Amy Schulman, the EVP and general counsel at Pfizer, and Marjorie Kaplan, the group president of the Animal Planet, Science, and Velocity Networks, click here.
October is National Breast Cancer Awareness month which has many of us thinking pink. Whether breast cancer has affected someone you know or not, it’s a time to think about those fighting the fight as breast cancer is the most common cancer among women in the United States. It also happens to be the second leading cause of cancer death in women.
Keeping those close to our hearts, one has to wonder what we can do to get involved. Sure there are tons of walk and run events along with the traditional donation, but what about purchasing those items that tote the pink ribbon? Unfortunately, not all products that talk about supporting breast cancer research actually put their money where their mouth is. Some are just capitalizing on the kindness of others who want to buy products with proceeds going to finding a cure.
If you have been looking for ways to support with your wallet through purchases, here are some companies who support breast cancer awareness you might want to consider.
The result is a ton on money being spent on beauty products. In fact, according to a report by The Beauty Company, the total sales in the beauty and personal care industry were roughly $426 billion in 2011. And sales are going up. Total global beauty sales for January through March 2012 were up 14 percent to $2.278 billion.
And African-American women spend $7.5 billion each year on beauty products. This is 80 percent more than the general market. “The reason it’s such a dramatic difference is attributed to the fact that African-American women have to sample more products to find the right ones for their skin,” reports New York Magazine.