Our community loves to share tips, tricks, favorite finds, updates, news and more - socialize with us from your phone, tablet or computer. Richelieu Dennis, founder of Sundial Brands and Shea Moisture, walks through what happened when his company found itself in hot water over their advertising. The campaign’s architect was Richelieu Dennis, the founder and CEO of Sundial Brands, which includes SheaMoisture, Nubian Heritage, and the recently launched Madam C.J. Sundial founder Richelieu Dennis will continue to lead business as CEO and executive chairman for the company, which he launched in 1991 in Liberia with his mother and a close friend. https://t.co/q2BGN0pxNF pic.twitter.com/CbLQlpK9Qz, "This acquisition of Essence represents the beginning of an exciting transformation of our iconic brand as it evolves to serve the needs and interests of multigenerational Black women around the world in an even more elevated and comprehensive way across print, digital, e-commerce and experiential platforms," said Ebanks in a statement. However, what many people are just now realizing is that in 2017, a company called Unilever acquired Sundial Brands, the parent company of Shea Moisture. California Privacy Rights | Sitemap | Black women are the core audience of SheaMoisture and the brands that exist under its parent company, Sundial Brands. *Richelieu Dennis is co-founder and CEO of Sundial Brands, makers of SheaMoisture and Nubian Heritage. by Janell Hazelwood November 27, 2017 December 2, ... behind brands including SheaMoisture … "In addition, it represents a critical recognition, centering and elevation of the Black women running the business from solely a leadership position to a co-ownership position.". When I first saw the meme it did raise an eyebrow because what in the world would one of the most disliked politicians have to do with my shampoo and conditioner. It sounds to me like Shea Moisture plans on being the next L’Oreal, and it can do this with Bain’s support. He is the owner … 4.1 out of 5 stars with 300 reviews. *Mary Dennis is co-founder and Treasurer of Sundial Brands, makers of SheaMoisture and Nubian Heritage. Thank you for being in our corner over the last 47 years. by Last summer, Shea Moisture founder Richelieu Dennis announced a $100 million fund for women entrepreneurs of color. Terms of Use | Sundial Founder (think: Shea Moisture, Madam C.J. Shea Moisture Maracuja Oil & Shea Butter for a Full Beard Beard Wash to Deep Clean - 6oz. On Monday, Essence Communications released a statement denouncing the allegations as baseless. Richelieu Dennis, founder of SheaMoisture products and current owner of Essence Magazine, recently announced the launch of a $100 million investment fund aimed to … Photo by Bennett Raglin/Getty Images For SheaMoisture. Essence Ventures added that the 47-year-old publication will focus on expanding its digital operations, with its main goal still being to serve and empower black women. For further information, please refer to our Privacy Notice. They accused Dennis of "a history of sleeping with women on the Sundial staff, (the parent company of Shea Moisture he sold to Unilever in 2017) and for the women who don't seemingly consent, he openly sexually harasses them at private company events." 190. Walker, and nyakio — all co-founded by Dennis. Shea Moisture is still a black owned company! Initially, SheaMoisture will be offering $100,000 in grants ($10,000 each to 10 different businesses). SheaMoisture is the legacy of Sofi Tucker, a pioneering mother of four and entrepreneur, who sold Shea Butter, African Black Soap and homemade beauty preparations in Sierra Leone in 1912. On Thursday, SheaMoisture haircare and skincare products founder Richelieu Dennis announced a $100 million fund for women entrepreneurs of color at the 2018 Essence Festival. As part of the deal, he vowed to use the capital to create an investment fund for minority entrepreneurs, specifically women of color. Though Shea Moisture is distributed by Sundial Brands, ... Must Read: 'Essence''s New Owner Has Big Ambitions for the Magazine, Estée Laundry Is the Beauty Industry's Unofficial Watchdog. EMAIL ME. 300. Richelieu Dennis continues to prove time and time again that he’s here for Black women. As reported previously, Dennis sold SheaMoisture to Unilever in 2017. Walker. Operating as if the White Man’s Ice is Colder. A couple of things to note: Recipes handed down from a healer make for potent 21st century cures. Avg. Meet Essie Bartels, owner of EssieSpice, & 2016 SheaMoisture Community Commerce fellow in partnership w/ Dartmouth College Tuck School of Business. Walker and nyako. She is Sofi Tucker's daughter and Richelieu's mom. He is Sofi Tucker's grandson and Miss Mary's son. (opens in new window). SheaMoisture is the legacy of Sofi Tucker, a pioneering mother of four and entrepreneur, who sold Shea Butter, African Black Soap and homemade beauty preparations in Sierra Leone in 1912. 10:30 AM PST 1/4/2018 SheaMoisture Founder and CEO Rich Dennis Presents Tina Knowles-Lawson with the 2017 Community Commerce Power Of Women Award. $4.99. Essence magazine is back under 100 percent black ownership. Black female consumers enjoyed the fact that SheaMoisture was a Black, family-owned company. We are natural, sustainably-produced goodness. Shea Moisture was founded by Liberians Nyema Tubman and Mary and Richelieu Dennis and is owned by Dennis' company, Sundial Brands. Walker. SheaMoisture African Black Bar Soap - 8oz. The product is apart of a larger company, Sundial Brands which include SheaMoisture, Nubian Heritage, Madam C.J. Unilever Acquires Sundial Brands, Owner of SheaMoisture, For an Undisclosed Amount. Sam Reed Shea Moisture co-opted the language of the natural hair movement, with its blogs, tweets, panels and books about finding acceptance and self-love in a world full of racially-fueled hair hate, but it did not feature a single kinky-haired woman. Well it wasn't long until I figured out that Shea Moisture had entered into a partnership with Bain Capital who is now a minority owner and a non controlling investor of Sundial Brands. Walker and nyakio™. The best ingredients gathered from around the world and picked to complement perfectly. Tested on our family for four generations. Added Dennis, "Our focus here will be on ensuring that Essence reaches its full potential via heightened capabilities, technology, products and touch points that super-serve the interests of Black women locally and globally.". ... Bain Capital, as a minority owner. | Cookie Settings. We know that we work for you and nothing makes us happier. It is with great joy that we announced that Essence is under new ownership and is now an independent African-American-owned company. Unilever is, of course, a white-owned company. We honor her vision by continuing to formulate with raw shea butter handcrafted by women in Africa. Made with love for you and your body. So many people had considered Shea Moisture to be one of those brands. Jul 18, 2017. FACEBOOK Our accessibility comes compromise-free. The Hollywood Reporter is part of MRC Media and Info, a division of MRC. Essence Ventures was founded in 2017 by Richelieu Dennis, who also founded personal care company Sundial Brands, which owns beauty companies Shea Moisture, Nubian Heritage and Madam C.J. We strive to be sulfate free, paraben free and more, whenever possible. The Shea Moisture CEO also makes a plea to long-time Shea Moisture supporters and fans of Black Businesses succeeding after the 13:15 mark in the video. Additionally, Ebanks and the all-black female executive team of Essence will receive an equity stake in the company. I think Shea Moisture is doing the right thing. SheaMoisture. Haircare and beauty brand SheaMoisture announced a $1M relief fund to support women of color entrepreneurs and small-business owners. The deal also includes a $50 million investment into the newly minted New Voices Fund, created to empower Black women in entrepreneurship. The brand is announcing a $1M fund driven by the brand’s long-established Community Commerce business model and the core belief that commerce and reinvesting in communities the brand serves creates economic opportunities and economic independence reports a … Explaining the realities of expanding or dying out as a business. The best in personal care and beauty should not belong to the few. Walker, etc.) TWITTER Bain is highly respected and has the ability to make Shea Moisture a world wide brand. In 2017, Sundial Brands was acquired by Unilever. Pioneering fair trade through Community Commerce at home and abroad. Do Not Sell My Personal Information We honor her vision by continuing to formulate with raw shea butter handcrafted by women in Africa. All rights reserved. Never on animals. Sundial’s brands include SheaMoisture, Nubian Heritage, Madam C.J. Unilever and Sundial Brands, creators of SheaMoisture, agreed to contribute an initial investment of $50 million to the fund. Ten business owners will be selected and awarded $10,000 each. SheaMoisture is encouraging business owners of color to apply now and throughout the month of April. Since its founding in 1991, Sundial has championed inclusive beauty and has served the unmet needs of consumers of color through its robust innovation pipeline, … It is in control of its company. SheaMoisture has announced, under its long-established Community Commerce business model, a $1 Million Fund to support entrepreneurs of color and small businesses. Essence president Michelle Ebanks will continue to lead the company and also join the board of directors. For a long time, they were. Beginning immediately, the brand will enlist a network of … This web site is directed only to U.S. consumers for products and services of Sundial Brands, LLC.This web site is not directed to consumers outside of the U.S. With every purchase, you show support of our mission to reinvest back in our communities. The $100 Million New Voices Fund was created to empower women of color entrepreneurs to reach their full potential.. Now, it seems the fund has made its first investment. As Black business owners we must stop treating our … Walker’s Old Home Into an Incubator for Black Women Entrepreneurs ... Dennis, 48, is the now the owner … The grant intends to show the power of Black-owned businesses to help communities, while also hoping to minimize the financial disruptions that many are experiencing from the current global crisis. Sign up and be the first to know about exciting offers, product updates and more from SheaMoisture. CEO of SheaMoisture Richelieu Dennis on Feb. 15, 2015, in New York City (Bennett Raglin/Getty Images for SheaMoisture) Potent salves stimulate, soothe, surprise and speak to all the senses. Essence Ventures was founded in 2017 by Richelieu Dennis, who also founded personal care company Sundial Brands, which owns beauty companies Shea Moisture, Nubian Heritage and Madam C.J. $8.99. 4.7 out of 5 stars with 190 reviews. Dennis assures that he will continue to spearhead the company and its day-to-day operations. SheaMoisture is doing its part to support women of color and small businesses during the crisis of this pandemic. COPYRIGHT © 2020 SUNDIAL BRANDS LLC. All Rights Reserved. Time Inc. originally purchased a 49 percent stake in the magazine in 2000 from owners Clarence Smith and Ed Lewis before buying the remaining 51 percent in 2005, according to the New York Times. © 2020 The Hollywood Reporter Unilever has officially acquired Sundial Brands, which includes their flagship brand SheaMoisture, Nubian Heritage, Madam C.J. Walker and nyakio™. Privacy Policy | Essence Communications announced Thursday that it was acquired from Time Inc. by Essence Ventures for an undisclosed sum. SheaMoisture. AdChoices | Sundial Brands is home to Shea Moisture, Nubian Heritage, Madame C.J. Shea Moisture’s Founder Wants to Transform Madam C.J.