10.20.14
Acquisitions are in the air, and only days after The Estee Lauder Companies announced they had added Le Labo to their portfolio, comes news from L’Oreal that they have scooped up Carol's Daughter. Based in New York City, Carol's Daughter is an American multi-cultural beauty brand with roots in the natural beauty movement. Created by Lisa Price in 1993, the brand caters to a diverse, rapidly growing market and has established a loyal consumer following around the country.
The brand follows a multi-channel distribution model, with a wide range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol's Daughter branded stores in New York City. For the 12 months ending September 30, 2014, Carol's Daughter reported net sales of $27 million.
"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."
Carol's Daughter will continue to operate out of their New York City headquarters under the brand's current leadership team.
Lisa Price, founder and president of Carol's Daughter, said, "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."
The closing is subject to the standard regulatory approvals and other customary conditions.
The brand follows a multi-channel distribution model, with a wide range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol's Daughter branded stores in New York City. For the 12 months ending September 30, 2014, Carol's Daughter reported net sales of $27 million.
"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."
Carol's Daughter will continue to operate out of their New York City headquarters under the brand's current leadership team.
Lisa Price, founder and president of Carol's Daughter, said, "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."
The closing is subject to the standard regulatory approvals and other customary conditions.