Lisa Price, born on May 18, 1962, in Brooklyn, United States, is the entrepreneur who founded Carol’s Daughter, an African American–owned company that sells hair and body products. The store bears that name in honor of her mother, her greatest source of inspiration and the person from whom she learned everything about the craft.
Carol’s Daughter began in Price’s kitchen. Literally—her venture operated out of her home for several years, where she created beauty products for hair and body. The first sales took place at fairs. The turning point came when Lisa appeared on Oprah Winfrey’s show.
Today, Lisa Price still works at Carol’s Daughter, although the brand now belongs to the L’Oréal conglomerate. Her company is part of the French multinational’s beauty portfolio. From 1993 to the present, her brand has grown significantly thanks to public support from several celebrities and investors who believed in her project. In 2014 the company was sold, though the purchase amount was never disclosed.
Part of the income from Carol’s Daughter is donated to nonprofit organizations and associations. This initiative seeks to support community members with financial contributions and goods. Price also offers free talks for future generations of entrepreneurs, encouraging young people to pursue their own ventures.
Desde la cocina a una tienda formal: la evolución de Lisa Price con su marca
Inspired by her mother and motivated by her own needs, Lisa Price entered the world of beauty products in 1993, when she launched her brand. Her first homemade recipes were sold at fairs and flea markets until her customer base grew enough for her to open a physical store, a website, and an email address. The first Carol’s Daughter boutique opened in 1999 in Brooklyn.
The “formula”? “I gave my products to stylist friends, asked for their opinion, and adjusted the formulas,” the New Yorker explained in an interview. The expansion of her brand was largely driven by the wide circulation of her products among friends, acquaintances, and family members who used them and quickly embraced them.
In her kitchen, with tools and materials at hand, Price recalled that “it was like experimenting with your mother’s, grandmother’s, or aunt’s recipe, but you wanted to update it for today: make it dairy-free, with less fat and less salt.” As the brand expanded and demand increased, 2001 became the year when Lisa requested a loan to enlarge her physical store.
Oprah Winfrey, un momento cúlmine en la carrera de Lisa Price
What does Oprah Winfrey, the TV host, have to do with Lisa Price? In 2002, one year after the loan for Carol’s Daughter, the entrepreneur appeared on Oprah’s show. The celebrity recommended her products, and from that moment the brand experienced a dramatic positive surge.
Suddenly, thousands of “strangers” came to Price’s home to buy her products, and that was when she realized her hobby had become a business. The loan coincided with a rise in both demand and supply. Between 2004 and 2007, Lisa brought in partners and investors and also released her first book.
In 2011, after a trip to Asia, Price discovered a “magical formula” that she later applied to a hair care collection. This line became the best-selling collection in the brand’s history.
¿Por qué Lisa Price vendió su marca a L’Oréal?
“I was able to be part of the transition, come with my team, and operate within L’Oréal,” Price summarized in an interview, noting that the years leading up to 2014 had been difficult due to the country’s economic situation. She described the transition as a process in which they found in the French multinational the “right place,” one that “understood what we had built, respected our consumers, respected the work I had done, and wanted me to stay to continue running the business.”
Beyond the sale, Lisa will never forget the boom generated by Carol’s Daughter in 2002, when after the Oprah Winfrey show, sales skyrocketed to extraordinary levels. Will Smith, Halle Berry, and Chaka Khan are among the celebrities who embraced her products.
Despite criticism following the acquisition by L’Oréal, the brand’s original spirit remains. “Are we a company founded and run by Black people? Yes,” Lisa stated. That has always been—and will always be—the goal, supported by her family, friends, and the indirect influence of her mother, whose presence lives on in the company’s name.
