L’Oreal is just snapping up brands left and right lately! In more recent beauty news, L’Oreal has purchased Carol’s Daughter! Unknown to me Carol’s Daughter actually filed bankruptcy back in May but Lisa M. Price, owner and creator of Carol’s Daughter, had sent a personal letter to Uptown magazine denying the brand was in any trouble, “Carol’s Daughter is still going strong after twenty-one years and the future has never looked brighter,” she wrote.
But today L’Oreal announced they have purchased Carol’s Daughter stating, “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 Frederic Roze, president and CEO of L’Oreal 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.”
“L’Oreal 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,” said Price in a statement.
In some ways, this is fantastic news as it means that Carol’s Daughter will perhaps be distributed more wildly at drugstores and perhaps to lead to new products developments. However, L’Oreal brands do test on animals and Carol’s Daughter is a cruelty-free brand so the question of whether it remain so does arise.
As a fan of Carol’s Daughter I’m looking forward to seeing what happens with the brand in the next several months ahead.
What do you hope to see from the purchase of Carol’s Daughter by L’Oreal?