Published on October 20th, 2014 | by thevyne0
L’Oreal Acquires Carol’s Daughter
Today beauty giant L’Oreal announced it is acquiring Lisa Price’s Carol’s Daughter. You may remember the story we did a while back about Carol’s Daughter stores filing for bankruptcy, though that announcement was related to retail stores, not the entire brand. You can see an excerpt from and link to the full press release from PR Newswire below:
NEW YORK, Oct. 20, 2014 /PRNewswire/ — L’Oreal USA announced today the signing of a definitive agreement to acquire Carol’s Daughter. Headquartered in New York City, Carol’s Daughter is a premier American multi-cultural beauty brand with a pioneering heritage in the natural beauty movement. Created byLisa Price in 1993, the brand caters to a diverse, rapidly growing market and has established a loyal consumer following across the country.
Following a multi-channel distribution model, Carol’s Daughter offers a comprehensive range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol’s Daughter branded stores in New York City. For the 12 months ending September 30, 2014, Carol’s Daughter had net sales of US $27 million.
“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.”
What do you think this will do for the Carol’s Daughter brand? Tell us in the comments.
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