L’Oréal sells Carol’s Daughter to new ownership

USA – L’Oréal USA, an American subsidiary of L’Oréal company,  has signed an agreement to sell Carol’s Daughter, a pioneering brand in textured haircare, to new ownership. 

The sale aims to ensure that Carol’s Daughter continues to thrive and innovate while maintaining its commitment to the Black community and its loyal customers.

According to a statement from L’Oréal, Carol’s Daughter is set to embark on a new chapter under the leadership of its founder and newly appointed president, Lisa Price. 

She will be joined by an independent beauty entrepreneur known for successfully acquiring and expanding brands such as Ambi, AcneFree, Baxter of California, and Dermablend.

David Greenberg, CEO of L’Oréal USA, stated, “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.”

Carol’s Daughter offers a wide range of products, including shampoos, conditioners, hair masks, leave-in conditioners, styling creams, body washes, lotions, scrubs, facial cleansers, moisturizers, serums, and masks.

In other leadership changes, L’Oréal Groupe announced Damien Favre’s appointment as President of the North American zone’s L’Oréal Dermatological Beauty Division (LDB).  

Favre takes over the role from Christina (Tina) Fair, who was recently named President of L’Oréal’s Consumer Products Division for the North America Zone.

He joins LDB after leading L’Oréal’s Consumer Products Division in the Latin America Zone.

Greenberg said, “Damien Favre’s impressive track record of driving growth, building brands, navigating complex market dynamics, and fostering a high-performance culture make him ideally positioned to lead L’Oréal Dermatological Beauty in North America as the Division continues to evolve.” 

Over the past two decades, he has held key leadership positions, including Garnier’s Marketing Director for Western Europe, General Manager for Garnier in Italy, and General Manager of the Consumer Products Division in Argentina. 

In these roles, he played a pivotal role in strengthening the division’s market presence, achieving record-breaking performance, and gaining extensive expertise in skincare and haircare.

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