Lisa Price founder of Carols Daughter announced on Monday October 20th that L’Oreal America (the umbrella company for many brands we love like Essie, NYX, Urban Decay & Maybelline) has purchased Carols Daughter and plans on helping it reach an even larger multicultural market. Price seemed thrilled about the new venture as L’Oreal released that they are still taking a few legal steps to finalize the deal. L’Oreal stated:
“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 Frédéric Rozé, President and CEO of L’Oréal 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.”
While Lisa Price went on to state the following:
“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 Lisa Price, Founder and President of Carol’s Daughter. “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.”
We have our own opinions on the issue but will choose to keep them silent for now. What do you guys think about L’Oreal acquiring Carol’s Daughter?