We were all excited when news got out that L'Oréal USA bought Carol's Daughter this week, but, of course, no one could be happier than the woman behind the natural hair brand, Lisa Price. In a recent interview with Styleblazer.com, Price opened up about what this meant for her company, what changes consumers can expect to see, if any, and what she hopes this venture will mean for Carol's Daughter's future.
Before fans start fretting that things are going to change with the company's products, Price assures consumers that the only things that will change is their access to a different audience and ability to cater to a broader market in addition to those who've been with her from the start.
"There are a lot of people that shop by what they need and they don't shop a particular section of a store. So given the fact that I'm an African-American woman, I speak in a certain vernacular, I have a certain swagger if you will, my core customer will always be with me, but I have the ability to create products for more people. I haven't changed myself. I haven't changed my plan. I haven't changed my product. I haven't changed anything. It's just that I have access to a different audience. The brand is just gonna be what it is. And by being what it is, it's going to resonate with more people."
Price is also excited about what L'Oréal will bring to the table. Yes, the company has acquired their own business savvy over the last 21 years, which has led them to gross $27 million in the past year, but there's something to be said for joining another company that has been a beauty giant for more than 60 years.
"The creative control is more ours [Carol's Daughter team] and mine. What L'Oréal brings to the table is a better infrastructure, access to data, guidance – You know, years and years of being in the industry – connections, distribution, etc. They basically love what we do and how we do it. And they're really not interested in changing that."
As for the changes she's seen in the natural hair market since she came on the scene, Price is happy and proud of how much the offerings have grown over the years.
"It's flattering to be the unofficial martyr for this [chuckles] to be one of the early voices in that. I think it's good that there is a lot of diversity in the natural hair space. We're not relegated to one particular brand. Of course it was wonderful for me when I was one of a very small handful. It made our focus… we didn't have to worry so much about competition, which would have been challenging given the size [of] my company at that time and those extremely limited resources," Price said.
"But now we're stronger, bigger, we're a bit more savvy. As a woman of color and as a proponent of healthy hair, it's nice to see that it's not just a fad. And it's great to see other small companies coming up. And not small in like, 'Their website is cute. And their stand at the trade show was adorable.' But their product is sitting in Target, two jars to the right! 'Cause it was definitely not like that ten years ago."
To read the entire interview, click here.
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(Photo: Janette Pellegrini/Getty Images for National Association of Professional Women)