In a landmark move within the beauty industry, Carol’s Daughter, the trailblazing haircare brand founded by Lisa Price in 1993, has transitioned back to independent ownership. After more than a decade under L’Oréal USA, the brand is now co-owned by Lisa Price and finance veteran Joe Wong, marking a significant chapter in the brand’s history.
Lisa Price began Carol’s Daughter in her Brooklyn kitchen, crafting products tailored to the unique needs of textured natural hair. Her dedication quickly garnered a devoted following, leading to investments from celebrities like Will Smith, Jada Pinkett Smith, Jay-Z, and Mary J. Blige by 2002. The brand's acquisition by L’Oréal USA in 2014 facilitated international expansion, introducing Carol’s Daughter to markets in Canada, the UK, and Europe.
In March 2025, L’Oréal USA announced the sale of Carol’s Daughter back to Lisa Price and Joe Wong. Wong, known for acquiring and revitalizing former L’Oréal brands such as Ambi Skincare, AcneFree, Baxter of California, and Dermablend, brings a wealth of experience to the partnership. Price will assume the role of President, ensuring her vision and leadership remain central to the brand's future.
David Greenberg, CEO of L’Oréal USA, expressed confidence in the new ownership, stating, "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 honored and celebrated women of color for decades. 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."
As the brand transitions back to independent ownership, all eyes are on what comes next. With Lisa Price leading the charge, Carol’s Daughter has the opportunity to redefine itself, reintroduce beloved products, and expand in ways that remain true to its community roots.
