- Category: Business
- Published: Saturday, 20 April 2013 16:05
- Written by Ebony Onyxx
- Hits: 11939
Fueled by African American women’s desire for eye-catching tresses, the Black hair care industry is worth an estimated $10 billion to date. And that’s not including synthetic and human hair sales.
Madame C.J. Walker gained a place in the Guiness Book of Records in 1910 as the first American female to become a self-made millionaire.
The world had changed and was ready and waiting for her line of beauty and hair products for black women.
In 1971, Johnson Products, the maker of Soft & Sheen products, became the first African American owned firm listed on the American Stock Exchange.
Until the 80’s, black owned hair and skin product lines prevailed in the market, primarily due to large white owned companies ignoring needs of the black consumer and the power of their spending dollar.