Yesterday, after a decade under L’Oréal USA’s ownership, Carol’s Daughter has been sold to an independent beauty entrepreneur, marking a new chapter for the brand. While the buyer remains unnamed, founder Lisa Price will take on the role of president and retain an equity stake in the company. Other terms of the deal were not disclosed.
David Greenberg, CEO of L’Oréal USA, acknowledged the brand’s impact on the beauty industry and Price’s role in shaping its legacy. “We are proud of Carol’s Daughter’s long legacy and the transformative impact it has had on the beauty industry,” he said. “At the heart of this legacy is Lisa Price, an entrepreneur who has always been ahead of her time… 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.”
Price founded Carol’s Daughter in 1993 in her Brooklyn kitchen, creating products specifically for textured hair. L’Oréal USA acquired the brand in 2014 for an undisclosed sum, helping to expand its distribution from 3,000 retail doors and into Canada. Reflecting on the transition, Price shared mixed emotions. “There’s definitely excitement about being independent again, but L’Oréal has been so great,” she said in an interview. “I feel like someone who has always done a thing, and then got to go to school and really, really learn the thing, and now I get to do it again on my own with all of this education and knowledge. So it’s pretty fantastic.”
As Carol’s Daughter enters this new phase, the future of its team remains uncertain. “People will be given the option [to stay],” Price explained, acknowledging that some employees may prefer the stability of a major beauty conglomerate. However, those who wish to join the independent venture will be welcomed. Moving forward, Price is eager to embrace agility and innovation. “Sometimes it’s hard to react quickly to things in a really big company,” she noted. “I have so much more information now, so much more knowledge.”
