black-owned   33

EleVen by Venus Williams
EleVen is a lifestyle of fashion-forward activewear, created by Venus Williams
black-owned  shopping  clothing 
19 days ago by lmschatt
Tristan Walker on the Roman Empire and Selling a Start-Up to Procter & Gamble - The New York Times
By David Gelles
Dec. 12, 2018

Tristan Walker founded Walker & Company, a maker of health and beauty products for people of color, in 2013. On Wednesday, the company was acquired by Procter & Gamble for an undisclosed sum. The deal represents a successful exit for Mr. Walker and his investors. It also signals an effort by Procter & Gamble, the maker of Gillette, to reach new markets with its shaving products. But while many start-up founders make a hasty exit after getting acquired, Mr. Walker is planning to stay on and grow Bevel, his men’s shaving brand, and Form, his women’s hair care brand. “We’re a team of 15 with very grandiose ambitions,” he said of Walker & Company, which is based in Palo Alto, Calif., but will move to Atlanta as part of the deal. “We want this company and its purpose to still be around 150 years from now.”

What’s that book you’ve got there?

It’s “Parallel Lives” by Plutarch. I’ve really been getting into Greek and Roman mythology. I’m reading something right now about the history of Rome during the 53 years when they really came into power, and this idea of the Roman state growing, the Greek state growing, and the differences therein fascinate me beyond belief. I’ve just been devouring it for the past few weeks now.

Walker attended the Hotchkiss School in Lakeville, Conn. And from there, he got to see how the other half lived. It completely changed his life. He got to see what success could look like. He got to see what wealth was. And it completely changed his worldview.

How so?

I would walk down the halls and see last names like Ford, go to some classes and realize they’re Rockefellers. These are names that were in my imagination. It taught me the importance of name and what that can mean, not only for you but your progeny. When I started at Hotchkiss, I didn’t know what a verb was. So I spent all of my time in the library studying. I spent all of my time thinking about what I wanted to be when I grew up.

What are your priorities as you keep building the company?

I’m dedicating my life to the demographic shift happening in this country. Not only for Silicon Valley. Not only for business. But for this country’s competitiveness. It’s changing. And folks need to respect that and they need to celebrate it.
African-Americans  Bevel  biographies  books  demographic_changes  entrepreneur  entrepreneurship  exits  Form  insights  long-term  P&G  Romans  Silicon_Valley  start_ups  Tristan_Walker  wealth_creation  black-owned  brands  consumer_goods  personal_care_products  personal_grooming  founders 
december 2018 by jerryking
P&G Buys Walker & Co. to Expand Offerings to African-Americans - WSJ
By Aisha Al-Muslim
Dec. 12, 2018

Procter & Gamble Co. PG +0.19% has acquired Walker & Co. Brands as the consumer-products giant looks to serve more African-Americans with health and beauty products.

Palo Alto, Calif.-based Walker sells grooming products for men under the brand Bevel and hair-care products for women under the Form Beauty brand.

Walker will operate as a separate and wholly owned subsidiary of P&G, continuing to be led by its founder and Chief Executive Tristan Walker, ......Last year, Anglo-Dutch consumer products firm Unilever PLC acquired Sundial Brands, a New York-based hair-care and skin-care products company predominantly targeting African-Americans, for an undisclosed sum. Sundial’s brands include SheaMoisture, Nubian Heritage, Madam C.J. Walker and nyakio.
African-Americans  Bevel  black-owned  brands  exits  hair  P&G  personal_care_products  personal_grooming  Tristan_Walker  Unilever  founders 
december 2018 by jerryking
With Sale, Essence Is Once Again a Fully Black-Owned Magazine
JAN. 3, 2018 | The New York Times | By SANDRA E. GARCIA.

Essence magazine is once again a fully black-owned publication.

The magazine, a mainstay of black culture for almost half a century, was bought by Richelieu Dennis, the founder of Sundial Brands, a large personal-care products company, from Time Inc.,
black-owned  magazines  digital_media  African-Americans  Essence  owners  publishing 
january 2018 by jerryking
As Black-Owned Banks Withdraw, Community Sounds Alarm - WSJ
By Sharon Nunn
Aug. 6, 2017

The number of black-owned banks operating in the U.S. has been dropping steadily for the past 15 years and fell to 23 this year, the lowest level in recent history, according to the Federal Deposit Insurance Corp. That has left many African-American communities short of access to capital and traditional financial services, according to some banking experts....The 2008 recession hit the black banking sector especially hard, and if the current rate of closures of about two a year, as well as the industry-wide reluctance or inability to start banks, continues, black-owned banks could disappear entirely within the next eight to 12 years. The trend is worrisome to some analysts who argue fewer banks serving low-income, minority groups could expand “financial deserts”—communities with few or no banking institutions—and increase the likelihood that black and Hispanic communities could become susceptible to redlining, a discriminatory practice that excludes poorer minority areas from financial services....... [black-owned community banks were] the first bank some African-Americans had access to, making it a symbol of black enterprise and economic development, .......A survey of entrepreneurs by the U.S. Census Bureau in 2014 found that 47% of black business owners had gotten got the full amount of funding requested from banks, credit unions or other financial institutions, compared with 76% of whites.

That survey also showed fear of rejection was the top reason cited by black business owners who chose not to seek needed capital at all.
black-owned  banks  African-Americans  trends  decline  FDIC  financial_services  redlining  low-income  community_banks 
august 2017 by jerryking

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