Yesterday, SheaMoisture made a HUGE announcement.
They have been bought out by Unilever. Now, When this was announced I heard right away that they are sell outs and they aren’t here for the community that built them but honestly I feel like that is further from the truth. As a SheaBassador I had the privilege to get on a call with Mr. Dennis himself and ask him specific questions about this deal(something that all of the Sheabassadors had a privilege of doing.)
Right away I wanted to know if this was a partnership or a buyout. Unilever has bought out Sundial but Mr.Dennis is still the CEO of Shea moisture and holds creative control. He now has the ability to have more capital to put back into his community at a faster rate, as well as being able to make his brand a global brand. I asked him if there was a black-owned business that was bigger than his that he could have gone to in order to build his brand to be the global brand he dreams of. He stated “sadly there was not.” he also stated that is why he is “excited about the possibility of investing in more black entrepreneurs so that one day we will see a black-owned business with global reach.”
I personally am excited about this. All too many times we as minorities cry out that the business needs to stay black-owned. Look around your neighborhoods, even in predominantly minority ones, WHO OWNS MOST BUSINESS? WHERE IS THE MONEY GOING? It is usually not back into the community that business is in. With this buyout the COO who is overlooking the companies that have been bought out is a black woman, the money is also being put BACK into black communities. So how is this a bad thing?
The “Beats Deal” of Beauty & Personal Care was Announced today but this time Black Women are at the Center ! This sister @eebracey sitting with in the light, is now on top of a 5billion dollar portfolio at Unilever bring all her Black Girl Magic & Grown Ass Woman Strategy to brands like Vaseline, Qtip, Dove (yup) AND now Sundial(SheaMoisture, Nubian Heritage) the largest deal ever in this category by a Black (family business) the DOPEST detail is Sundial & @unileverusa have created a fund to invest in Black & WOC entrepreneurs starting at 100 million! Providing, capital, infrastructure & information to smart, passionate sisters-50 million ready to invest in Jan! Today Black women won big in a big business deal & there’s more to come ✊🏾💄💃🏽 #BossedUpBlackWomen #CenterBlackWomen #InvestInBlackWomen #TrustBlackWomen #BlackGirlMagic #GrownAssWoman #HereForBlackWomen
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One thing that Mr. Dennis kept stating over and over is that he is excited that they now have the economic freedom to put money in our communities that way we can have the SAME opportunities. If there are no funds then how will these opportunities happen?
I have seen a lot of black women talk about this company and how they aren’t the same etc and you have every right to not spend your coins where you don’t want too. However, look at this as an opportunity you have as black women(Or other WOC) to submit business proposals to a company that understands the struggle you may have when going to a bank to get a business loan. They now have the opportunity to help MORE women. So if you have a dream of owning your own business, start getting things together so you can submit a proposal and try to get it funded.
What other company has done this? who have set up a fund to help entrepreneurs. NO one else has done it on this scale. This is the LARGEST buyout for a black-owned business who made sure that their community is not left behind. When you are innovators and at the forefront of business, people may not understand and they may not support you. Business 101 is about growth, you can’t make money if you don’t grow and you cant invest in people or your business if you have no money.
So congrats ShaeMositure on your new endeavors. You’re not afraid to break down the walls and I can’t wait to see where the next 20 years takes you.