L’Oréal USA has sold textured hair care brand Carol’s Daughter to its founder Lisa Price for an undisclosed sum.
Price will work alongside an unnamed independent beauty entrepreneur, who L’Oréal USA said has a “proven track record of acquiring and growing beauty brands”.
This includes brands such as Ambi, AcneFree, Baxter of California and Dermablend.
Price will assume the role of President and has taken an equity stake as part of the newly-established business partnership.
“We are proud of Carol’s Daughter’s long legacy and the transformative impact it has had on the beauty industry,” said David Greenberg, CEO of L’Oréal USA.
“At the heart of this legacy is Lisa Price, an entrepreneur who has always been ahead of her time and has built Carol’s Daughter into a beloved brand that has honoured and celebrated women of colour for decades.”
The French beauty giant’s US division will work with Price and the new business partner to “ensure a seamless transition” as the brand “enters this new phase”.
Carol’s Daughter was founded in Brooklyn in May 1993, with L'Oréal USA acquiring the brand in 2014 for an undisclosed sum.
“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,” Greenberg added.
It follows L’Oréal divesting its skin care brands Decléor and Saint-Gervais Mont Blanc to a newly-created French brand builder.
Cospal, which was founded in 2024 by Matthieu Lesieur, acquired the two brands for an undisclosed sum in December 2024.
Lesieur’s family has links with the brand Decléor, with his father Hervé reportedly acquiring the brand in 1989 before selling it on to Shiseido.
“With this double acquisition, the Cospal group has reached a major milestone in its growth strategy, affirming its intention to become a key player in the beauty sector,” said Lesieur at the time.
“Rejuvenating two iconic brands like Decléor and Saint-Gervais Mont Blanc is a unique opportunity to preserve their heritage while breathing into them a new, innovation-driven impetus.”
Decléor was founded in 1974 and focused on aromatherapy and essential oils, becoming a mainstay in luxury spas across the globe.