That superseded the priority of Black hair care.. Since then, Essence has installed Caroline A. Wanga, a former Target executive, as its interim leader and has also pledged to hire law firms to conduct a review of workplace issues. Richelieu Dennis, the founder of Sundial Brands, said he bought the company to serve and empower women of color.. Essence Communications Inc., the 48-year-old mutliplatform brand that owns Essence magazine and the annual Essence Festival, has gone back to black (ownership), having been acquired by Essence Ventures LLC, an independent African-American-owned company, Essence Ventures announced in a press release. When The Daily Beast spoke to him this week about his buy up of BeautyCon, Dennis refused to directly answer any questions about the 2020 controversy and his promise to step away from Essence magazine. Were counting on you, Caroline. 1028 on display. But we must fix the systemic brokenness of any Black cultural institution that devalues Black women. The company owns . While [people] say they want to protect Black women, thats a lie. On Thursday (Jan. 4), Essencethe nations leading African American-focused publicationwas sold by Time Inc. to a newly formed company backed by Richelieu Dennis, a multimillionaire personal-care-products mogul. We may earn a commission from links on this page. We are hiring for both print as well as online articles. ! She ended her statement with the hashtag #BlackWomenRiseTogether., Black Female Anonymous replied to Ms. Wanga on social media. Essence President Michelle Ebanks will continue at the helm of the company and will join its board of directors; she will also have an equity stake in the business. Correction: A previous version of this story incorrectly stated that Richelieu Dennis had the title of interim CEO. Black News and Black Views with a Whole Lotta Attitude. Essence currently reaches over 16 million people via social media, print, digital engagement and live events, according to a spokeswoman for Essence Ventures. iSoloArtist. Essence has been an influence for African-American women since its first publication in May 1970. Best-known for massive magazine brands like Time, People, and Sports Illustrated, Time Inc. bought Essence more than a decade ago, back when the publishing company was one of Americas most formidable media giants. Instead, he framed his latest venture as part of a mission to fight racism in the retail industry. I thank the entire ESSENCE team for their tremendous passion and unrelenting commitment to driving the brands success. Its branding was so popular . The owner of Black business empire Essence Ventures, who vowed to step away as the acting CEO of Essence magazine after being an awful boss during last year's racial reckoning, is. An annual study found that the total number of magazine readers in the U.S. remained above 220 million in every year between 2016 and 2020, having previously hovered around the 210 and 215 million . The magazine has a circulation of more than one million and its website attracts nearly seven million unique visitors each month. But if I were to see how that goes and hear about the event moving in the right direction and it being the fun and inviting event its supposed to be, Id certainly attend in the future., Nottingham, however, questioned whether Essence could really change BeautyCon or if it was another case of diversity initiatives being whitewashed.. 1035, and the Maine Classic Car Museum has No. This is a continuation of my quest to do that.. Got it from Dillards for $14. Time Inc. announced Wednesday that Essence Ventures, LLC, an independent African-American owned company, acquired Essence Communications. American Essence FO R E V E RYO N E W H O LOV E S T H I S C O U N . They have allowed us to invest into the business so that we can bring in the infrastructure and resources.. According to a statement released by the magazines owner, Essence Ventures, Essence will keep its current executive team, which consists entirely of black women, including Michelle Ebanks, the magazines president. The reason is because of the racist structures that existed in mass retail., He said hair care products were once racially segregated on store shelves but, thanks to his efforts, retailers have come to realize theres a much bigger market opportunity when you engage in Black brands on a fair and consistent basis. An op-ed, titled "The Truth About Essence" and written by "Black Female Anonymous" was published on Medium on Sunday that outlined allegations of a toxic workplace culture in which Black. Long a touchstone of Black culture, Essence celebrated its 50th anniversary with its May issue, which featured the model Naomi Campbell on the cover. Thoughts have power; thoughts have energy. But while Meredith hopes to cut costs, Essences new owners are planning to investheavily. In the Medium article, titled The Truth About Essence, anonymous staffers claimed that Dennis slept with his employees and harassed those who rejected his advances. Mr. Dennis said that he was raised by a single mother who read Essence magazine and that his four daughters read it. The first time I picked up an issue of Essence magazine, I noticed Susan Taylors picture. Since 1970, Essence Communications has served as a source of empowerment for black women across its platforms, including its flagship print magazine, television specials, and the annual Essence . However, they either didnt respond or declined to comment. You may opt-out by. Savor each page [of American Essence]. The cookies is used to store the user consent for the cookies in the category "Necessary". We idolize Black capitalism, Black consumerism, and Black wealth over Black people, and I dont see this being an issue at all for them. Because I hope they dont stray from the culture of Essence. An op-ed, titled The Truth About Essence and written by Black Female Anonymous was published on Medium on Sunday that outlined allegations of a toxic workplace culture in which Black employees are systematically suppressed by pay inequity, sexual harassment, corporate bullying, intimidation, colorism and classism.. The letter, which was posted on social media, also demanded that Essence be transparent about the law firms it will hire for the planned review, adding that they must not have ties to Mr. Dennis or others in leadership roles.In an Instagram post on Thursday, Ms. Wanga sounded optimistic about the future of Essence. According to Page Six reporting, the employees are giving Essence executives an ultimatum: respond in five business days or they will release personal testimonials of pay inequity, workplace bullying, lay-offs while on maternity leave and immediately after giving birth and sexual harassment. Using the Black Female Anonymous nom de plume again, they launched a change.org petition to get signatures for their resignation. With a circulation of over 1 million and some 8.5 million monthly readers, Essence is hardly nicheand it should have been appealing to major publishing corporations. I think many people dont even know about it because no one cares about Black women. I like my face in this, though. When you have someone that dominates space that already provides windows and opportunities for women of colorand Black women in particularif Black women speak up, what other spaces are there for them? Essence said that he helped lead the team but never took on the role and responsibilities as CEO. Writing a comprehensive business plan is the first step in starting a business. 5:11 pm. As a woman who writes, and aspires to publish a book, I really admire Susan, and I think that she is one of the most influential women in journalism. A new CEO was named for Essence magazine and the company, which owns several other entities like Afropunk festival and hair care company Naturally Curly, promised that Dennis would be taking a step back. Shanygne Maurice, creator of beauty product reviews on a YouTube channel called TooMuchMouth, said she had a rather unpleasant experience as a Black creator at the last BeautyCon but actually sees the Essence buyout as an opportunity to make the event more inviting and inclusive for Black influencers and enthusiastsgiven Essences history in the Black community., Im not sure if Id participate in the first one [under Essences ownership], she said. The cookie is used to store the user consent for the cookies in the category "Analytics". The group has given Ms. Wanga, the interim leader, until the close of business on Friday to comply. Edward Lewis, Clarence O. Smith, Cecil Hollingsworth and Jonathan Blount founded Essence Communications Inc. (ECI) in 1968. On Thursday (Jan. 4), Essencethe nation's leading African American-focused publicationwas sold by Time Inc. to a . She looked like a statue of an ancient African goddess, sort of that Grace Jones bold look, but with clothes. Ebanks directly links this growth to Essences new all-black ownership. Ivie is a Nigerian-American, native New Yorker, and journalist covering, Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of, magazine, from Time Inc. on Wednesday. I see this being extremely profitable, honestly, just because people are going to spend money however they want to. Celebrity OTE - Spring Arts Guide Daniel Kaluuya. This denim skirt is from the thrift store for $3. That reality was reflected by Johnson Publishing Companys sale two years ago of Ebony and Jet to a private equity firm in Texas, creating a void in black-owned media companies. In 2000, Time Inc. acquired a 49 percent stake of Essence from its founders and acquired the remaining percentage five years later. Melody Spann-Cooper, chairwoman of Midway Broadcasting Corporation, which owns WVON, a Chicago radio station whose target audience is black, welcomed Essence's return to being an. The new journey on which we are embarking will be fueled not only by the passion we have (and have always had) for Black women, but also that Black women will be at the helm as we move forward.. This is a BETA experience. The City of Cacapava, Sao Paolo, Brazil, owns No. The cookie is used to store the user consent for the cookies in the category "Performance". Austin-based Michael Gibson's ClearView Partners, with backing from Houston private-equity firm Park View Capital Partners, are the new owners of the 62-year-old monthly. This cookie is set by GDPR Cookie Consent plugin. The executive team will also have an ownership interest in the business. The strategic vision and leadership that Michelle has provided to ESSENCE over the years have been exemplary, and we are thrilled to work with her and her talented team to provide the necessary resources and support to continue to grow the engagement and influence of the ESSENCE brand and transform this business, Dennis said. All of that changed this week after it was announced that the company has been sold to Essence Ventures LLC, a company launched in 2017 by Shea Moisture founder Richelieu Dennis. Richelieu Dennis speaks onstage during the 2018 Essence Festival in 2018. In addition, Ebanks, along with a Black female-led executive team, will have an equity stake in the business. In the Medium essay and on social media, Black Female Anonymous has called for the resignations of Ms. Profet and Ms. Luu; demanded that Ms. Ebanks leave the board; and demanded that Mr. Dennis have nothing to do with running Essence. Get notified about exclusive offers every week! The spokeswoman added that Ms. Wanga would oversee the independent review of the Essence workplace. We also use third-party cookies that help us analyze and understand how you use this website. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Ebanks insists this sacred wall will still be honoredand that Essence is not directly owned by Sundial, but rather a separate Dennis-helmed entity. Speculation Centers on Value of Successful Festival. filed for bankruptcy last year after being ravaged by the pandemic. I am a believer that when we own our media companies they represent an authentic voice, Ms. Spann-Cooper said. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. His firm, Sundial Brands, was founded to provide hair- and skin-care products to minority women, and was inspired by traditional shea-butter recipes found in Denniss native Liberia. More curiously, his history with beauty brands, which will be core Essence advertisers, also raises questions about the magazines ability to truly separate its business and editorial sidea core value of traditional media that is quickly eroding in the age of advertorials and native advertising. Ebanks is referring to the fact that Essences executive team consists entirely of black women. JUNETEENTH CELEBRATION with Umojah Nation Reggae Band and the Griot Project at the Art & Soul of Buckeye Park in Cleveland. - Monica Guza .. non-political, real-life look at goodness, decency, and excellence in the world. Got it from H&M for $10 a year ago. Essence magazine sold (Image Source: Facebook/@Essence) Since 1970 Essence has been the premiere fashion and culture magazine for women of color. Lou Carlozo, Editor and Publisherlou@talkingbiznews.comChris Roush, Founderchristopher.roush@quinnipiac.edu, Talking Biz News is a division of Vested LLC31 E. 17th St.New York, NY 10003917-765-8720. Time Inc. announced Wednesday, that Essence Ventures LLC, an independent African-American owned company, acquired the media company. As a classicist, he's at ease with the ancient world but often brings a historian's insightful perspective to current . As a subscriber, you have 10 gift articles to give each month. American Essence brings you the best of America, past and present, to help you create a better future for yourself and the country. As reported earlier by Journal-isms for The Root, the Essence brand was not part of the historic, nearly $3 billion sale of Time Inc. to the Meredith Corp. in November 2017. The anonymous essay suggested that many Essence employees believe he has not lived up to that statement. Other businesses and contractors who worked the event were reported to have filed complaints with the Better Business Bureau or sought assistance from collections agencies. Instead, Essence is now in the hands of Dennis, a media newcomer who made his fortune in shea-butter cosmetics. For the last 50 years, Essence Magazine has consistently found innovative approaches to archiving Black women's lives by immortalizing our intellect, literature, and culture on glossy pages. Print fond memoriesThis pocket Bluetooth printer lets you print your precious memories before they hit Instagram. Dennis serves as CEO and executive chairman of Sundial under the Unilever partnership. The essay is part of an online campaign that includes Twitter and Instagram accounts and a change.org petition, which has collected more than 2,000 signatures. The Henry Ford Museum of American Innovation has one on display, which is ironic because the Ford Motor Company was one of the Big Three that was supposedly . (The festival was canceled this year and replaced with a digital event because of the coronavirus pandemic.). Sundial Brands announced in November a partnership with Unilever to acquire Sundial. Essence, as an archive of Black life, is also a cornerstone in the . It tells the stories of real Americans who take individual initiative to make their lives and the lives of others better. We wish the ESSENCE team the best and will watch this celebrated brand continue to flourish in its next chapter," he stated. Michelle Ebanks will continue to serve as president of ESSENCE Communications and will join its board of directors. Ebony is a monthly magazine that focuses on news, culture, and entertainment. I would have to see change, see an apology, in order to participate or contribute. Taylor served as Editor-in-Chief of Essence from 1981-2000, but worked for the magazine since its conception in 1970. We have two magazines: Radiant Life and American Essence as well as an online platform: Bright. The company announced Tuesday night that it had appointed Caroline Wanga to be interim CEO and that they would launch an independent investigation into the workplace culture. The magazine focuses on fashion, pop culture, music and black life. https://t.co/q2BGN0pxNF pic.twitter.com/CbLQlpK9Qz. These cookies will be stored in your browser only with your consent. Bennett Raglin / Getty Images For SheaMoisture, Lifestyles publisher Meredith buying Time Inc. in Koch brothers-backed deal. This was an important week for minority media. The American Hotel & Lodging Association recommends $1 to $5 a night left daily, preferably in a marked envelope making it clear that it is intended for the housekeeper. The sale of Essence to Mr. Dennis comes at time when traditional media companies continue to struggle to adapt to an increasingly digital landscape, challenges also faced by black-owned media. In the same . It will serve as a guide to make your entrepreneurial dreams a reality, help you avoid costly mistakes, assist in financial preparations, serve as a resume of sorts for future potential business partners and much more.. The essay said Mr. Dennis tried to force Essence employees and contractors to sign nondisclosure agreements to protect him and his family from liability or disparagement after a string of wrongful layoffs. It also said that Mr. Denniss wife, Martha Dennis, whom it described as the companys head of human resources, should not serve in that role, calling the arrangement a blatant conflict of interest. (An Essence spokeswoman denied that Ms. Dennis was the head of human resources, saying that she had advised the company in its ongoing HR transition as the company searched for a full-time HR lead.). The ESSENCE team has extended the brands reach and influence across multiple platforms, solidifying its position as the premier destination for African-American women serving an audience of 16.3 million, said Time Inc. President Rich Battista in a memo to staff obtained by NBC News. This acquisition of Essence represents the beginning of an exciting transformation of our iconic brand as it evolves to serve the needs and interests of multigenerational black women around the world in an even more elevated and comprehensive way across print, digital, e-commerce and experiential platforms, said Ebanks. However, she also doesnt think BeautyCon will suffer from the negative stain of Essence. Anyone can read what you share. Under the agreement, the $2.8 billion deal would include Time, Fortune and Sports Illustrated. I spent 30 years of my life breaking down the racial barriers of beauty, he said. Were very proud of that, and we see [BeautyCon] as a continuation of that work.. AMERICAN ESSENCE brings to you stories that remind us of the promise of America. Mr. Dennis said that he approached Time Inc. about buying Essence after Time Inc. agreed in November to be sold to the Meredith Corporation, the owner of Better Homes & Gardens and Family Circle, in an all-cash transaction worth about $2.8 billion. Under the influence of coconut oil, shea, olive, and a slight bit of gel to hold it. In addition, it represents a critical recognition, centering and elevation of the black women running the business from solely a leadership position to a co-ownership position.. Reporters, poking around, have unearthed intriguing connections: a documentary co-produced with Steve Bannon; a donor who worked at the secretive hedge fund run by the Breitbart benefactor Robert. Citing an abusive work culture, the essays writers also said that Black women at the company are systematically suppressed by pay inequity, sexual harassment, corporate bullying, intimidation, colorism and classism.. The once exalted media brand dedicated to Black women has been hijacked by cultural and corporate greed and an unhinged abuse of power, the writers said in the essay. (Time Inc.s golf magazines and entire UK division are also on the market.) This flare shirt is amazing! When it started off, we knew their demographic. This is historical.. This pocket Bluetooth printer lets you print your precious memories before they hit Instagram. Queen Charlotte: A Bridgerton Story Is Our TV Pick Of The Week, Small Town Horror Story: The Racist Attack Of A FedEx Worker. The brand was looking for another buyer and has apparently found one with Essence Ventures, which was founded and is chaired by Liberian-American Richelieu Dennis, who also is founder of SheaMoisture (in November, Unilever acquired the parent company for SheaMoisture, Sundial Brands). Follow NBCBLK on Facebook, Twitter and Instagram. , who will keep her place at the helm of the company will also joining its board of directors. A target of Black Female Anonymous is Richelieu Dennis, the owner of Essence Ventures, the parent company of the magazine and Essence Communications. Despite being profitableand operating the massively successful music festival that anchored the summer-movie hitGirls Tripno major publisher thought that Essence was a worthy acquisition. The conversations @richelieudennis and I started a few months ago about his strategic vision for @Essence and the opportunity to be on a team furthering the health/wealth of the global black diaspora, across a portfolio of businesses including @essence, was a win. A win stitched together by a 50-year legacy of black creatives, businesses, and community that I would be honored to be a part of., Ms. Wanga noted that she had learned there are things that need to be better for our team and culture and Im ready to begin that work, adding, Im committed to flourishing while fixing and fastening what needs to work to be in service to our teams, communities and partners. In addition, the all black female executive team of Essence, including Ebanks, will have an equity stake in the business. Boxing legend George Foreman and actor Khris Davis share inspiration for Big George Foreman film, Deborah Janes Strange Fruit film revisits the past to fix the future in racial reconciliation, Black home buyers considering buying a home 5 ways to purchase a house without a down payment, Rolling out kicks off 2023 Sisters with Superpowers 10-city tour and awards dinner in Atlanta, May 4; tickets available, Breaking the Chains provides job training and opportunities to the youth, Shara McHayle shares how hip-hop inspired her business, Hoop 88 Dreams. This major move marks. This website or its third-party tools process personal data.In case of sale of your personal information, you may opt out by using the link. It focuses on culture, beauty, fashion, and entertainment. You win and you learn. The authors called for the resignation of Dennis and other executives, urged for an advertising boycott and painted a damning portrait of Dennis, including alleging that his surface-level commitment to Black women is driven by greed and a debaucherous sexual appetite, that he has sexually harassed multiple women and has used NDAs to protect his family against liability or disparagement. This article was originally published in American Essence magazine. Everybody aint lying, she said. Copyright 2022 Rolling Out. Dennis sold his cosmetics company Sundial Brands to Unilever for an estimated $1.6 billion in 2017. The monthly lifestyle magazine covers fashion, beauty, entertainment and culture. It does not store any personal data. Its true that lifestyle giant CondNast is in the midst of a major austerity program, but its competitor Hearst recently acquired indie publisher Rodale, which owns titles like Mens Health and Prevention. An anonymous essay published on Sunday criticized Essence, the groundbreaking Black media brand, citing an abusive work culture in which bullying and sexual harassment were common. American Essence April 24, 2022 Liberty Tree: A Look at Thomas Paine's Song Celebrating the Beauty of American Freedom In a chariot of light from the regions of day, The Goddess of Liberty. Essence Ventures is founded and chaired by Richelieu Dennis, founder of Sundial Brands which owns Shea Moisture. Im very focused on giving back, investing and growing my community, he said. The company hired two law firms to conduct an investigation, which found that staff felt overworked and underappreciated but concluded that Dennis didnt engage in behavior that would have amounted to unlawful discrimination, harassment or retaliation. (The anonymous writers of the Medium article did not speak to investigators.). As a subscriber, you have 10 gift articles to give each month. We have an opportunity to control our media and tell our own story and that is often muted when traditional media companies that represent the African-American culture are owned by someone outside of an African-Americans hands it loses something. Published January 6, 2018. Essence has necessarily brokered introductions between Black ideas and Black people. Yet the sale, no matter its community significance, suggests that minority-focused magazines will forever remain along the fringes of major media. Mr. Dennis would not discuss the details of the sale. and a graphic artist! Essence, a 48-year-old monthly lifestyle magazine, has a majority-black readership. Like SheaMoisure, she said. Mr. Dennis has also stepped away from the daily leadership role he had assumed since the departure of Ms. Ebanks, the company said in a separate statement. He vowed that Essence Ventures would bring heightened inclusivity to BeautyCon. I think its cool that it has pockets. I dont believe in losses, she wrote. The company also runs the annual Essence Festival in New Orleans, a celebration of Black culture that has drawn headliners like Aretha Franklin, Mary J. Blige and John Legend. Bain Capital took a minority stake in Sundial in 2015. Were never lacking content; were never lacking a story; were lacking an opportunity to compete, she added. Essence Ventures started in 2017 and is chaired by founder, entrepreneur, investor and philanthropist, In addition, the all black female executive team of, Jalen Hurts Reaches $255 Million Deal With Help of All-Women Management Team, Drake Opens for Lil Wayne During Welcome to tha Carter Toronto Tour Stop, Chance The Rapper Talks Conversation With Dave Chappelle At Black Star Line Festival, Chance The Rapper & Vince Mensas Ghana Festival to Include Erykah Badu, T-Pain & More, Carolyn Bryant Donham, Woman At the Center of Emmett Till Saga, Has Died, Dwyane Wade Moved His Family From Florida Due to Anti-LGBTQ Policies, Controversial Talk Show Host Jerry Springer Has Died, Red Table Talk Canceled as Meta Ends Facebook Watch Originals. As we launch BRIGHT Magazine this week, I have in my head the guiding voices of SJN's co-founders. Analytical cookies are used to understand how visitors interact with the website. We accept that because what else is the ultimate goal in this country?. In 2017, it was sold to the conglomerate Unilever, but Dennis remains Sundials CEO and executive chairman. [W]e are excited to be able to return this culturally relevant and historically significant platform to ownership by the people and the consumers whom it serves, and offer new opportunities for the women leading the business to also be partners in the business, said Dennis of the Essence brand acquisition. 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