Check out this reader submitted video that investigates the monopolizing of the “black” hair-care industry by Korean merchants
via LA Times
Procter & Gamble Co. has sold Johnson Products Co., its African American hair-care products unit, to a local group of private investors including a husband-and-wife team.
Terms of the deal, announced Tuesday, weren’t disclosed.
Founded in 1954, Johnson Products has sales of more than $23 million a year. The company, whose brands include Gentle Treatment and Ultra Sheen, offers more than 30 hair-care products.
Buyer RCJP Acquisition Inc., a newly formed independent entity, comprises a team of industry veterans as well as Rustic Canyon/Fontis Partners, a private equity fund in Pasadena, and St. Cloud Capital, a private equity firm in Los Angeles.
Johnson Products will be led by Eric Brown and his wife, Renee Cottrell-Brown.
“The acquisition of Johnson Products represents the renewal of a family of products that revolutionized the ethnic hair-care industry starting in the 1950s, and a next stage of growth for a legendary company,” Brown said in a statement. Continue reading
BET suffered another setback this week when several advertisers pulled spots from popular network programs due to images of violence and profanity.
According to Paul Porter of media watchdog group, Industry Ears and CNN, Proctor and Gamble, Pepsi and General Motors pulled their ads from Rap City and 106 & Park after the companies viewed “The Rap on Rap,” a content analysis of BET and MTV programming.
The study found that children were exposed to violence, profanity or obscenity once every 38 seconds.
Jermaine Dupri has just announced the formation of TAG Records, a joint venture between Island Def Jam and Procter & Gamble’s TAG Body Spray. TAG Body Spray? Yeah, you know Dupri’s is Mr. Young, Fly & Fresh to Death so to assure that fresh smell why not form a label with a body spray company? There is no artist signed to this label as of yet but Dupri promises that they’ll get the biggest push of any artist to date. Mr. Dupri will be named president of this label. There will be a lot of cross branding, artist placement in commercials for the brand and different unique forms of exposure. It appears as if labels are taking note and following in the footsteps of recent joint mergers like Madonna’s brand with Live Nation, or their recent partnership with Jay-Z.
“Today, we make history in the music industry with TAG Records,” said Jermaine Dupri, president of TAG Records. “This label is going to provide new artists with a chance of a lifetime. New artists will receive ten times the typical marketing support – a first in the industry. I’m hand selecting and molding these artists to make history in hip hop.”
To read the full press release click HERE