Black Opal has a two new owners.
The brand has been acquired by Desiree Rogers, the former chief executive officer of Fashion Fair Cosmetics and former special assistant to President Obama, and Cheryl Mayberry McKissack, former ceo of Ebony Media. Black Opal makes skin-care and makeup products specifically for women of color. It is sold in the mass market channel, through stores like Rite Aid, as well as online.
"We are delighted to own Black Opal, a company created almost three decades ago, to address the makeup needs for people of color," Rogers, who will be the company's ceo, said in a statement. "Rooted in its exceptional product quality and unparalleled knowledge of skin care for highly melanated skin, Black Opal is known for its superior ingredient and high product efficacy. Together, Cheryl and I are looking forward to creating even more innovative products and continuing to grow the brand globally."
"We will continue to look for ways to bring the newest trends to the brand, including talc-free products, additional skin-care products directed at the concerns of pigmented skin tones — such as hyperpigmentation, brightness, etc. Also, look for increased highly-pigmented fresh color," Rogers told WWD.
"Our goal to stay true to the founders' passion," said McKissack, pointing to the brand's True Color Skin Perfecting stick foundation and Even True Pore Refining Gel cleaner as key products. "As we continue to grow the company and bring high quality products to the market, we also plan to focus on creating a positive impact in our communities."
Terms of the deal were not disclosed, but industry sources said Black Opal has more than $10 million in retail sales. Black Opal was sold by Mana Products, which has been exploring various sale options after the death of founder Nikos Mouyiaris.
For more from WWD.com, see:
Madison Reed to Franchise Color Bars
The RealReal Investor Backs Hair-care Start-up Aquis
Source: Read Full Article
You may also like
