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L’Oréal Broadens Into the Multicultural Market

In a bid to reach a more diverse customer base, L’Oréal announced on Wednesday that it will acquire Carol’s Daughter, a brand known for producing natural hair products for women of color. “It’s an area that’s underserviced,” says Bloomberg analyst Deborah Aitken.

“I know I’ll be with the right shepherd,” Lisa Price, founder and president of Carol’s Daughter, told fans in a video posted on Facebook. “[L’Oréal] will help to take what I’ve built and solidify it in its place in history and beauty. … I don’t have to wonder if, 20 years from now, 30 years from now, will there still be a Carol’s Daughter brand.”