Lisa Price: From Passion to Prosperity with Carol’s Daughter
Lisa Price embodies the essence of the American dream, achieved through bold risks and relentless pursuit of her passion. In my recent interview with her for “Masters of the Game” on TheGrioTV, we delved into the remarkable journey of Carol’s Daughter, the renowned brand she established. Having personally used her products for over two decades, I can attest to their exceptional quality, especially the leave-in conditioner that remains unmatched.
The story of Carol’s Daughter is a testament to Price’s dedication and ingenuity. During the late 1980s, while living in Brooklyn and working as a TV producer, Price’s true passion lay in crafting fragrances and lotions at home. Initially, this was a hobby, with Price creating these products for herself and friends. However, her mother, Carol, recognized the potential and urged her to start selling them. Embracing this encouragement, Price began offering her creations at local markets, where they quickly sold out. Demand grew, transforming her side hustle into a burgeoning small business.
A pivotal moment came when Price, pregnant with her first child, decided to fully commit to her venture. She left her job and devoted herself entirely to her hair and body care company, aptly named Carol’s Daughter. Her love for home chemistry and the feedback from her customers allowed her to refine her products, catering specifically to the needs of African-American hair. This dedication led to steady growth, and by the early 2000s, Carol’s Daughter had a store in Brooklyn, backing from celebrities like Will Smith, Jada Pinkett Smith, and Jay-Z, and impressive sales surpassing $2 million annually.
Despite the success, Price faced significant challenges. Running a growing business meant managing numerous employees and financial uncertainties. There were Fridays when she did not know how she would have enough money to keep it going on Monday. There were moments of financial strain, including a bankruptcy filing, but her unwavering commitment to quality and her loyal customer base kept the brand afloat. In 2014, Carol’s Daughter was acquired by L’Oréal, a move that not only elevated the brand but also secured Price’s financial future. Her journey from kitchen creations to a globally recognized brand under one of the world’s leading beauty corporations is nothing short of inspirational.
Lisa Price’s story is a powerful example of turning passion into generational wealth, epitomizing the American dream. To hear her recount this incredible journey, tune in to “Masters of the Game” on TheGrioTV, airing Friday, July 26 at 8 pm ET/7 pm CT.
