There are of course a number of celebrities who have used, praised and supported the line including Mary J Blige and Jada Pinkett Smith. While the brand Carol’s Daughter boasted earnings of $27 million in the past 12 months, the retail end, which was expanding far too rapidly according to some industry experts, had to file for bankruptcy.
This didn’t stop cosmetic giant, L’Oreal, from acquiring Carol’s Daughter in an effort to bolster their inroads into a more diverse market. According to L’Oreal purchasing the Carol’s Daughter brand will allow them to build a “new dedicated multi-cultural beauty division as part of our Consumer Products business.” Carol’s Daughter will join the ranks of NYX, Clarisonic, Urban Decay, Essie and Maybelline.
Price released a statement about the acquisition stating, “I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L’Oreal USA… 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.”
But of course, long time fans of the product are understandably worried about the brand’s new owners changing the formula and creating a product that they do not recognize. And while it is not clear what role Price will have in the company after the sale has been completed, we do know that the brand will now be more available to a wider market place.