This is big news! The beloved Afro-centric beauty brand founded by Lisa Price has been acquired by the L'Oréal empire! This comes as quite a surprise, especially after persistent rumors of the company's financial troubles, which were previously denied by Jada Pinkett, Will Smith's wife.
After Schwarzkopf and its range for kinky, curly, and relaxed hair, it's L'Oréal's turn to enter the Afro market. Indeed, since acquiring its first ethnic range, Dark and Lovely, the brand has clearly been aiming for the No. 1 spot in the multi-cultural cosmetic market. The number 1 cosmetic company is only at the beginning of its journey and is shifting into second gear by acquiring Carol's Daughter. Its activity is valued at nearly $27 million.
Lisa Price created this brand over 20 years ago in Brooklyn; she worked hard throughout these years to establish her brand, now recognized for its quality, and thanks to the support of stars such as Jada Pinkett, Solange Knowles, Cassie, or Mary J. Blige, who only increased its notoriety, and consequently allowed it to gain Recognition in the beauty world.
Lisa Price is very proud of her new partnership with L'Oréal, an association that will allow her to achieve much more significant goals.
