L’Oreal USA Builds Multi-Cultural Division With Carol’s Daughter Acquisition
Could the days of colorblind consumerism and marketing be gone? Possibly. Today (Oct. 20), L’Oreal USA announced their purchase of every naturalista’s kryptonite a.k.a Carol’s Daughter, in an effort to aid the company in reaching a more diverse consumer base.
CEO of L’Oreal USA, Frederic Roze explained, “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. 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.”
With this new acquisition Carol’s Daughter will continue to carry out it’s mission of creating high-quality hair, body and skincare products made with natural ingredients. Founder Lisa Price even chimed in to add her excitement saying, “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”.
Vixens, what do you think about this growth strategy tactic for both Carol’s Daughter and L’Oreal USA?