Shakers: Profiles of African-American Achievers
Shakers: Beauty's Right Price
By Ayeko Vinton, Special to AOL BlackVoices,
Posted: 2005-07-25 16:16:17
Name: Lisa Price
Age: 34
Company: Carol's Daughter
Company Headquarters: Brooklyn, N.Y.
Tidbit:
Lisa Price is creator and president of Carol's Daughter -- the multimillion dollar bath and body company launched from her home in 1993. Her all-natural, deliciously named products like Mimosa Hair Honey, Crème de Coco Body Scrub, and Apple Berry Bliss Body Spray are a hit with celebrities and regular folks alike, and have been featured on The Today Show, The Oprah Winfrey Show, The View, and in Ebony and Essence magazines. This year, Carol’s Daughter is poised for even greater expansion, thanks to a $10 million investment infusion from New York marketing honcho Steve Stoute, Jay-Z, Will and Jada Smith, Jimmy Iovine, and Tommy and Thalia Mottola.
Why You Should Care:
Price has accomplished what many business owners, existing and aspiring, dream of. Pouring her passion and creativity into one-of-a-kind products, she’s moved from bankruptcy to financial security, created an extremely profitable business, provided consumers with another option for bath and body care, and paid fitting tribute to her mom, Carol Hutson, for whom the business is named. She’s also parlayed her business success into high-demand speaking engagements and last year wrote ‘Success Never Smelled So Sweet,’ her memoir and how-to-be-an-entrepreneur guidebook.
Age: 34
Company: Carol's Daughter
Company Headquarters: Brooklyn, N.Y.
Tidbit:
Lisa Price is creator and president of Carol's Daughter -- the multimillion dollar bath and body company launched from her home in 1993. Her all-natural, deliciously named products like Mimosa Hair Honey, Crème de Coco Body Scrub, and Apple Berry Bliss Body Spray are a hit with celebrities and regular folks alike, and have been featured on The Today Show, The Oprah Winfrey Show, The View, and in Ebony and Essence magazines. This year, Carol’s Daughter is poised for even greater expansion, thanks to a $10 million investment infusion from New York marketing honcho Steve Stoute, Jay-Z, Will and Jada Smith, Jimmy Iovine, and Tommy and Thalia Mottola.
Why You Should Care:
Price has accomplished what many business owners, existing and aspiring, dream of. Pouring her passion and creativity into one-of-a-kind products, she’s moved from bankruptcy to financial security, created an extremely profitable business, provided consumers with another option for bath and body care, and paid fitting tribute to her mom, Carol Hutson, for whom the business is named. She’s also parlayed her business success into high-demand speaking engagements and last year wrote ‘Success Never Smelled So Sweet,’ her memoir and how-to-be-an-entrepreneur guidebook.
Price started Carol’s Daughter in her kitchen, dreaming and mixing up lotions then trying them on friends and family. Encouraged by their feedback, she went into business full-time in 1993 and managed everything from production to sales. After selling her products directly from home and vendor booths, she opened her first boutique in Fort Greene, Brooklyn in 1999, and also expanded into catalog and online sales. Price’s product line now includes more than 350 selections. To move the company further mainstream, Carol's Daughter's current ad campaigns feature Jada Pinkett-Smith, a loyal customer whose image has already boosted sales exponentially. Price has also created a loyalty program, Friends of the Family, which offers gifts, discounts and special promotions to members.
With the support of her investment collective, Price will expand into larger retail space, beginning with a flagship store on Harlem’s 125th street, and later, locations in Atlanta, Baltimore and Philadelphia. As Carol’s Daughter grows beyond the Brooklyn boutique and mail order business, Price's challenge will be to build on her initial success and distribute her products more widely, while creating a return for her investors and maintaining the quality and service associated with her brand.
About the Author
Ayeko Vinton is teacher, web developer and freelance writer living in Boston.
With the support of her investment collective, Price will expand into larger retail space, beginning with a flagship store on Harlem’s 125th street, and later, locations in Atlanta, Baltimore and Philadelphia. As Carol’s Daughter grows beyond the Brooklyn boutique and mail order business, Price's challenge will be to build on her initial success and distribute her products more widely, while creating a return for her investors and maintaining the quality and service associated with her brand.
About the Author
Ayeko Vinton is teacher, web developer and freelance writer living in Boston.
2005-07-11 11:33:57
