Companies affiliated with African American beauty brand Carol's Daughter has filed for Chapter 11 bankruptcy. The brand founded in 1993, by Lisa Price (aka Carol's Daughter) makes hair, body and skincare products using natural ingredients geared towards Black women. The company has received financial support from celebrities like Mary J Blige, Will and Jada Smith, Jay Z, and has even appeared on Oprah, but is wasn't enough to help push sales and they have been unprofitable since 2010.
Price built her beauty empire out of her kitchen and has enjoyed the help of celebrity endorsemnets by the likes of singer Solange Knowles, model Selita Ebanks, and singer/model Cassie, although Solange left for undisclosed reasons and a campaign lead by investor Steve Stoute went terribly wrong.
Carol's Daughter products are available in over 2,000 retail stores including Target, Macys, Sephora and also sells through it's website and the Home Shopping Network. After letting go of 29 employees and closing five of their seven stores, the company is said to be refocusing it's strategies.
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