who owns american essence magazine

In the same . With Sale, Essence Is Once Again a Fully Black-Owned Magazine 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. 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. The magazine focuses on fashion, pop culture, music and black life. This cookie is set by GDPR Cookie Consent plugin. Michelle Ebanks will continue to serve as president of ESSENCE Communications and will join its board of directors. Why the FT bought a majority stake in Endpoints News, Vice News Tonight canceled, company announces layoffs, The Messenger hires Scotti as a biz and finance editor, Traditional Art (Paintings and Sculptures from Renaissance to early 1900s), Classical Architecture and Houses of Beauty in America as well as Europe, History of Performative Art (opera, theatre and ballet), All applicants must send a sample of their writing along with their resume. Time Inc. announced Wednesday, that Essence Ventures LLC, an independent African-American owned company, acquired the media company. 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. American Essence FO R E V E RYO N E W H O LOV E S T H I S C O U N . And last year Denniss firmwhich generates some $240 million in annual salespartnered with Unilever to create a $100 million New Voices Fund to support black female entrepreneurs. Opinions expressed by Forbes Contributors are their own. 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 . Long a touchstone of Black culture, Essence celebrated its 50th anniversary with its May issue, which featured the model Naomi Campbell on the cover. When we think about power dynamics and who has the power, if the allegations are true regardless of an investigation that took placewhere can these women go? 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. Richelieu Dennis, CEO of SheaMoisture, at Fashion Week in New York in 2015. But we must fix the systemic brokenness of any Black cultural institution that devalues Black women. A Traveler's Guide to Tipping in a Changed World The Essence motto is Black women come first, and Mr. Dennis said he intended to live up to it. The Essence team denied the allegations in a statement Monday, calling them mischaracterizations and unfounded attempts to discredit our brand and assassinate personal character.. She looked like a statue of an ancient African goddess, sort of that Grace Jones bold look, but with clothes. These cookies track visitors across websites and collect information to provide customized ads. 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. Print fond memoriesThis pocket Bluetooth printer lets you print your precious memories before they hit Instagram. Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of Essence magazine, from Time Inc. on Wednesday. The original name in concept was Sapphire. 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. In addition, Ebanks, along with a Black female-led executive team, will have an equity stake in the business. The company owns . The acquisition 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, Ms. Ebanks said in the statement. In addition, the all black female executive team of Essence, including Ebanks, will have an equity stake in the business. Ebanks directly links this growth to Essences new all-black ownership. Ebanks issued a statement which reads in part, 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, 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.. Yet the sale, no matter its community significance, suggests that minority-focused magazines will forever remain along the fringes of major media. Altogether Richelieu and the Dennis family directly and indirectly buy the silence of current and former Essence Black female employees who fear backlash of Richelieus massive financial and social capital, the authors wrote. 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. As a subscriber, you have 10 gift articles to give each month. African-America backing, she notes, is not only symbolically important, but ownership is an important pillar of economic empowermentand directly builds wealth and strengthens communities of color., Black media insiders also applauded the Essence deal. 5:11 pm. African-American company buys Essence Communications from Time Inc. and a graphic artist! Celebrity OTE - Spring Arts Guide Daniel Kaluuya. As part of the growth plan, we will launch and/or acquire new content verticals and new brands in order to super serve our community of women,says company president Michelle Ebanks, who is leading Essences all-female executive team. 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., Essence Ventures announced on Wednesday. This was an important week for minority media. Queen Charlotte: A Bridgerton Story Is Our TV Pick Of The Week, Small Town Horror Story: The Racist Attack Of A FedEx Worker. You may opt-out by. Its branding was so popular . We wish the ESSENCE team the best and will watch this celebrated brand continue to flourish in its next chapter," he stated. This pocket Bluetooth printer lets you print your precious memories before they hit Instagram. But Black capitalism looks like misogyny, sexism, and sexual assault. Ebony (magazine) - Wikipedia For an optimal experience visit our site on another browser. BRIGHT Magazine Launches Today. Editor-in-Chief Sarika Bansal on the As we launch BRIGHT Magazine this week, I have in my head the guiding voices of SJN's co-founders. The move returns 48-year-old Essence to black ownership for the first time in over a decade, and solidifies the magazines status as the most important minority-owned publication in America. The monthly lifestyle magazine covers fashion, beauty, entertainment and culture. Taylor served as Editor-in-Chief of Essence from 1981-2000, but worked for the magazine since its conception in 1970. In the summer of 2020, a Medium article was published with damning accusations against Essences owner Richelieu Dennis. Essence Magazine has new African-American owners Posted in Art, Ethinicity, Culture, Identity Tagged African American History Month, black history 365, black history month 2017, susan taylor essence, susan taylor history, susan taylor interviews, susan taylor time inc, who owns essence magazine Essence Communications announced Thursday that it was acquired from Time Inc. by Essence Ventures for an undisclosed sum. No one cares about Black women, she continued. Under the influence of coconut oil, shea, olive, and a slight bit of gel to hold it. Instead, Essence is now in the hands of Dennis, a media newcomer who made his fortune in shea-butter cosmetics. You also have the option to opt-out of these cookies. This is a magazine for Americans who love their nation. Im very focused on giving back, investing and growing my community, he said. Ebanks insists this sacred wall will still be honoredand that Essence is not directly owned by Sundial, but rather a separate Dennis-helmed entity. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. At the time of the purchase, Mr. Dennis, who was born and raised in Liberia, said Essence would serve and empower women of color under his stewardship. Dennis sold his cosmetics company Sundial Brands to Unilever for an estimated $1.6 billion in 2017. It focuses on culture, beauty, fashion, and entertainment. American Essence Magazine is also a nonpolitical magazine that aims to showcase the values and traditions of American culture with stores of the people and places, past and present, that helped and continue to help shape this nation. 40 Founders Of Black-Owned Hair Care Brands You Should Know About | Essence Richelieu Dennis, the owner of Essence Ventures, at the 2018 Essence Festival in New Orleans.

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