October 20, 2014
Beautifully Said Team
Cosmetics giant, L’Oreal USA announced today that it has purchased beauty company Carol’s Daughter. The move will help the company reach a diverse consumer base.
“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.”
Founder, Lisa Price created Carol’s Daughter in 1993. She will still maintain the current leadership team in New York, the company headquarters.
“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.
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Photo: Nicole Bengiveno
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