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Carol's Daughter is one of the original Black woman-founded textured hair care brands introduced to mass retail as a result of the natural-textured hair movement of the early 2000's. The brand was acquired in 2014 by L'Oreal with founder, Lisa Price, remaining at the helm. Initially heralded as a groundbreaking move by the beauty brand giant to add a premium multicultural hair care brand to their portfolio, the company has now sold Carol's Daughter to financial and beauty industry veteran, Joe Wong, who has previously purchased offloaded brands from L'Oreal. According to media resources, Price has an equity stake in the company and will continue to lead the brand under the new ownership. Price and Carol's Daughter experienced both victory and backlash when she sold the company to L'Oreal in 2014. Consumers who trusted the "For us, by us" hair treatments did not hold in their disappointment, expressing that selling to L'Oreal would mean formula changes to make the products they love more suitable and appealing to the general market instead of continuing to meet the unique needs of Black women's hair. While many abandoned Carol's Daughter to support Black-owned brands, the brand continued to expand in distribution, powered by L'Oreal's support. However, sales dwindled as consumers turned to other new Black women-owned brands surfaced on shelf. In historic fashion, small niche-market brands tend to suffer when acquired by large companies by not receiving the proper investment of resources to continuously engage consumers who helped make the brand popular. It's hoped that this divesture will help breathe new life into Carol's Daughter with resources to re-engage consumers in the now evolved multicultural textured hair space. In a company issued statement, L'Oreal USA CEO, David Greenberg, states, "We are proud of Carol’s Daughter’s long legacy and the transformative impact it has had on the beauty industry. At the heart of this legacy is Lisa Price, an entrepreneur who has always been ahead of her time and has built Carol’s Daughter into a beloved brand that has honored and celebrated women of color for decades. We are confident that, with Lisa Price as president and the support of its new partner, Carol’s Daughter will continue to thrive for years to come.” Carol's daughter is sold in the multicultural hair care sections of most mass, drug, grocery, specialty beauty and beauty supply stores throughout the U.S., and in recent years, introduced in Europe.#carolsdaughter#blackowned#beautynews#beauty#beautybusiness#haircare#multiculturalmarketing#MCBI#multiculturalbeautyinsider#loreal#beautyretail#BIPOC