Tag: Carol’s Daughter

Five Savvy Books by Successful African-American Entrepreneurs

Successful entrepreneurs understand that the way to success is to be a lifelong learner. From staying abreast on latest trends to reading up on tried-and-true strategy, leaders win by seeking knowledge.  Here are five books that will help any entrepreneur do just that:

The Man From Essence by Edward Lewis

Written by Edward Lewis, co-founder of Essence magazine, this book tells the story of how he started his company with three partners, eventually reaching and impacting millions of people with a landmark publication for women of color. He became the last man standing by the time it was sold to Time, Inc. Lewis details the motivation behind his drive to succeed, her personal triumphs and challenges and insights on management, startup strategy and perseverance through the ups and downs of the publishing world.

How to Succeed in Business Without Being White: Straight Talk on Making it in America by Earl G. Graves

In a society where white men dominate the top seats at major corporations, this book serves as motivation and mentorship for African-American innovators. Being one of the most prolific executives in business, Graves tells us his own story of how he  became a multimillionaire, the director of several of America’s Fortune 500 corporations, a philanthropist and entrepreneur, how he built the legacy of Black Enterprise. The business icon touts: “Economic power is the key to success in a capitalistic society.”

Why Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business Empire By Reginald F. Lewis

Lewis’ first successful venture was his $22.5 million-leveraged buyout of McCall Pattern Co., where he sold it for $65 million in 1987, and made an astounding 90 to 1 return on his original investment. He re-branded the corporation as TLC Beatrice International Inc. As the CEO and chairman, Lewis increased the company’s worth in rapid time,an with revenues of $1.5 billion, TLC Beatrice made it to the Fortune 500. It was also the first company on the Black Enterprise List of Top 100 African-American owned businesses. This book details how all of this happened and will inspire many bosses for generations to come.

Success Never Smelled So Sweet: How I Followed My Nose and Found My Passion by Lisa Price

Lisa Price, founder of Carol’s Daughter, tells the story of her life, starting from the beginning with her childhood days in Brooklyn, N.Y., to the moment her business was created and how it bloomed. The innovator provides motivating and enticing stories and explains how she went from bankruptcy to grossing over $2 million yearly while working from home. Price believes that life will guide each and every one of us until we realize our own inner truth, regardless of the challenges we faced to reach to our destination. She also shares with us advice her mother gave her and recipes for her best-selling products.

Black Titan: A.G. Gaston and the Making of A Black American Millionaire by Carol Jenkins and Elizabeth Gardner Hines

A.G. Gaston was the grandson of slaves and was born penniless. At his death, he was worth more than $130 million and helmed several businesses. This is the story of his life through the eyes of his niece and grandniece. Gaston was determined to make a difference for African Americans during the time of slavery. When he passed away in 1996, he was one of the richest men in America. Black Titan is the story of a man who changed the future for all black businesspeople in our country.

article by Cristie Leondis via blackenterprise.com

Lisa Price’s Beauty Company Carol’s Daughter Purchased by L’Oreal USA

carols-daughterL’Oreal USA announced today that it has purchased beauty company Carol’s Daughter, which 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.”

Carol’s Daughter, which was founded in 1993 by Lisa Price, will continue with its current leadership team, based out of its New York City 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.

In May, Carol’s Daughter announced the closing of five store locations as part of a bankruptcy reorganization. Many at the time questioned the financial health of the company. Price addressed those questions directly in a Facebook post.

“It is important to set the record straight. Carol’s Daughter is still going strong after twenty-one years and the future has never looked brighter. As part of our increased focus on new retail channels, we have decided to close five of our stores. This was portrayed as if we are having some challenges, but nothing could be further from the truth,” she wrote at the time.

“The nationwide Target launch this past March is an opportunity that very few companies receive. I am proud of that. I am also proud and blessed to have valuable partners, like HSN, Ulta and Sephora inside JC Penney. These partnerships have enabled me to distribute Carol’s Daughter in over 2,500 stores and on direct TV which is far beyond the reach of my living room in Brooklyn,” the letter continued.

Today’s sale is subject to the final regulatory approvals. Other financial details are undisclosed.

article by Tonya Garcia via madamenoire.com

Former Essence Editor Corynne Corbett Launches Beauty Biz Camp to Foster Diversity Within Beauty Industry

beauty-biz-camp

 With a mission to foster diversity within the beauty industry, former Essence beauty editor, Corynne Corbett launches Beauty Biz Camp, a non-profit program that teaches adolescents, ages 12-18, about the ins and outs of the beauty industry.  The Beauty Biz Camp is a three-week course held in New York City (from July 22 through August 9) that will cover beauty topics like, interpreting beauty trends, the beauty buyer’s role, and what really happens behind the scenes of a fashion show. The curriculum is lead by industry power players like Lisa Price (the founder of Carol’s Daughter), Yesenia Almonte (Seventeen‘s beauty director), and Patricia Reynoso (editor in chief of Glam Belleza Latina).

Corynne chatted with Fashionista.com and shared why she created the camp, what young girls will gain from this experience, and her thoughts about diversity in the beauty industry.

ccorbett-headshot
Beauty Biz Camp founder Corynne Corbett

I have always had a passion for mentoring people. I have a long list of mentees that are placed all over the industry who are doing quite well. I wanted to think of how to formalize it. One of the reasons I thought I should start with teenagers was because I thought, “What would have happened if I had known as a teenager that this industry existed?” I knew about beauty–my grandmother was a hair stylist–so I knew that part of the business. I knew that you could sell makeup at a counter, but that’s all I knew. But that I could be a decision-maker or create a product? That’s something I didn’t know, and most young women don’t know that.

On what she expects young girls to gain from her camp: 

“I love beauty and I’m really glad that I’ve found a way to use my talent differently. As publishing and all these things change, people should start thinking about what kind of legacy they want to leave. What do you want to be known for? And is it different from what someone else is doing? What I love about beauty is it’s so collegial across the board. I thought I was going to be a fashion editor when I went to school but I’ve never regretted a day in the beauty industry. This might not be the career for the [girls who come to camp], but the whole notion of being beautiful for themselves and to understand they have power by saying what [they think] is beautiful, is important.”

Her thoughts on diversity in the beauty industry: 

“I think the beauty industry is challenged because there is not enough representation at the [decision-making] table. Instead of complaining about it, I need people to do something about it. They say we can’t find the people [to fill those jobs], so then let’s equip people to do the jobs.”

Read the entire interview at Fashionista.com.  The beauty camp is open to everyone and there are still some scholarships available. Go here for information.

article by Ty Alexander via blackamericaweb.com