Since 1993 Lisa Price, the founder and president behind the popular beauty brand, Carol’s Daughter has been blending butters and oils for her line of products, but recently the company was purchased by L’Oreal. Many in the African-American community are wondering, was this a good business deal or did she sell out?
In a video released to fans, Price said “I know I’ll be with the right shepherd. (L’Oréal) will help to take what I’ve built and solidify it in its place in history and beauty. … I don’t have to wonder if, 20 years from now, 30 years from now, will there still be a Carol’s Daughter brand.”
Earlier this year Carol’s Daughter closed five stores as a result of bankruptcy.
In 1998 L’Oreal acquired SoftSheen-Carson, an ethnic-hair brand, however customers are wondering if the company will continue to produce the same quality of products as in previous years.
“I wouldn’t use the products if the ingredients changed,” said local resident, Brittany Young. “She definitely sold out. Let’s just see how it is marketed now.”
“I have mixed feelings,” said Tiffany Shackleford, local resident. “I’m happy for her because it was a great business move, but how will this impact the product? L’Oreal isn’t known for having the best ingredients so I hope that doesn’t trickle down to the Carol’s Daughter product.”
“I know that my mother (Carol) is smiling,” Price said in a statement.
There has been no release on how much the company was sold for.
