Shea Moisture Has Been Acquired
Shea Moisture is back in the news y’all. Unilever, the maker of Dove soap (and a number of other major brands) announced yesterday, November 27, 2017 that it will be acquiring Sundial. Sundial, one of the largest producers of hair and skincare products for African American women, according to Essence.com, is the maker of brands like Shea Moisture and Nubian Heritage.
Now, although Richelieu Dennis, the founder of Sundial, plans to remain the CEO and Executive Chairman, I still have a bit of a problem with this whole situation. Why do so many Black-owned businesses make this same type of move once they have support from the Black community?
Unilever and Sundial are creating a fund that will invest $50 Million to “empower women of color entrepreneurs”. But, does this new program make up for selling the company? Should Shea Moisture still be considered a “Black-owned company”?
I have so many questions…but ultimately, I think I’m over Shea Moisture at this point.
Do you still plan to support Shea Moisture?
What are your thoughts?