Lisa Price is probably thrilled about her most recent business move, but do the supporters and customers of Carol’s Daughter share the sentiment? The savvy business woman who built her beauty brand from the ground up for more than two decades has sold Carol’s Daughter to L’Oreal. Both parties shared their elation with deal in a press release earlier this week.
“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 L’Oréal USA president and CEO Frédéric Rozé, said. “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.”
“I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L’Oréal USA,” said Price in the release. “L’Oréal 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. I know that my mother (Carol) is smiling as well.”
But the deal has caused some concern among customers and fans who fear the products will suffer as a result. In a recent interview with LoveBrownSugar, Lisa says not to worry, the products that you have grown to love will remain the same.
“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.”
Hopefully, Lisa can gain some significant resources while preserving the integrity of her brand. Good luck Lisa!