Endorsements are very expensive and as a whole they do work, still a woman has to decide for herself if that product is great for her and her hair so with all the choices now available, sometimes Mimosa Honey* might get passed up for something else.
Of course feel free to share your own opinion, ours is that there is a market out there that is saturated by beauty products and to swim with the big pack of fish it took more than what the company was prepared to handle.
It isn’t always about race and diversity, it is about money and making sure your brand is in the right place which might mean making some tough but necessary decisions. But with reports that most of their stores have not been profitable since 2010, clearly the decision to close some of them was the right one. Perhaps their focus should be to sell primarily online as well as through major retailers like Target.
The direction of having the products in big box retail stores is much better than having stores dedicated to one brand alone, especially if the stores in question do not offer salon services. It might just have been unrealistic step which explains their decision to close the stores and realign their business agenda.
A company rep made the statement:
We are happy to report that Carol’s Daughter did not file for bankruptcy. To focus more attention on our third party retailers we made a decision to close five of our seven free-standing retail stores through a bankruptcy process. Our products will continue to be in over 2,000 independent retail outlets nationwide with more exciting launches to come that we can’t wait to share with you.”
And this is what the CEO Richard Dantas had to say:
“Today’s filing in no way reflects the parent company’s healthy financial situation, and is a part of its plan to grow the brand through national retail outlets,”
My conclusion? Do you Lisa, I’m not worried.
What say you?