Essence CEO Richelieu Dennis Resigns Following Scathing Op-Ed (Page Six), These Mother-And-Son Entrepreneurs Went From Selling Soap On Harlem Streets To An $850 Million Fortune (Forbes). Dennis acknowledged that, though progress has been made in the beauty industry in terms of racial efforts, it doesnt mean the problem is solved. He said theres still a need for awareness and education to dismantle structural racism at the root of bias in the community. I think its cool that it has pockets. Founded in 2011 by Marina Curry, a Black woman, BeautyCon was a hub of live events before it started to falter in 2019. 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. Co-founded by Ed Lewis and Clarence Smith in 1968, Essence has been one of the lifestyle go-to companies for African-American women. (Time Inc.s golf magazines and entire UK division are also on the market.) Braids by my homegirl Aziza Yasmine. 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. I like the tapered sweater. Articles to be published in our magazines will be roughly 900-2,000 wordcount and articles that are published to our online website can be 500 to 1,000 wordcount. 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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. 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. Last year, The Wrap reported that a year after a huge event that attracted thousands of attendees, BeautyCon was still struggling to pay vendors. That superseded the priority of Black hair care.. Its branding was so popular . Necessary cookies are absolutely essential for the website to function properly. 1035, and the Maine Classic Car Museum has No. 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 . 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? Because I hope they dont stray from the culture of Essence. The cookie is used to store the user consent for the cookies in the category "Other. Black Women In Hollywood To Know: Creatives | Essence Meet the writers, hair stylists, costume designers, and all around creatives who are setting the standard today. Sundial Brands announced in November a partnership with Unilever to acquire Sundial. Even with your apology, [victims] still have their trauma and the after-effects. 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. - Charles Middlemas Uplifting stories about exceptional Americans. Essence Ventures is founded and chaired by Richelieu Dennis, founder of Sundial Brands which owns Shea Moisture. The essay also had criticism for two other Essence leaders, the chief operating officer, Joy Collins Profet, and the chief content officer, MoAna Luu. Richelieu Dennis speaks onstage during the 2018 Essence Festival in 2018. Its not to say that they shouldnt be able to cater to all types of hair and all types of people, but theres always this desire to cater to whiteness and white features. Under the agreement, the $2.8 billion deal would include Time, Fortune and Sports Illustrated. In 2018, he bought the Essence brand, vowing to scale Black-owned brands and bring much-needed diversity to the beauty and lifestyle world. 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. So lets GOOOOOOOOOO!!! The magazine was founded in 1970 as a black-owned publication for black women who, coming out of the Civil Rights era and in the midst of a new feminist wave, were eager to read not only about fashion and beauty but careers and spirituality too. 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. This is a BETA experience. (The festival was canceled this year and replaced with a digital event because of the coronavirus pandemic.). Thoughts have power; thoughts have energy. Thank you for being in our corner over the last 47 years. 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 most valuable part of writing a business plan is the education you gain by researching and . Headwraps by Queen Fatima Chui. 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. The cookie is used to store the user consent for the cookies in the category "Performance". Click to share on Pinterest (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on Pocket (Opens in new window), https://africanessence.files.wordpress.com/2023/01/music-nov-29_solange_whenigethome_dreams_7.mp3, They tried to bury her, but she kept on giving birth . Ebony is a monthly magazine that focuses on news, culture, and entertainment. Essence Names Interim Chief After Claim of Abusive Work Culture, https://www.nytimes.com/2020/07/02/business/media/essence-magazine-accusations.html. Time Inc. announced Wednesday, that Essence Ventures LLC, an independent African-American owned company, acquired the media company. American Essence magazine is a breath of fresh air in troubled times! 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. The future of Essence was uncertain when it was announced Meredith Corporation was buying Time Inc. in November. This flare shirt is amazing! 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 . The demand for a new America calls for the complete accountability of all Americans, even those of us in Black America and our cultural institutions, the writers said. Dennis bought Essence from Time Inc. in 2018 for an undisclosed sum. Essence Communications Inc. (ECI) was founded in 1968 by Clarence O. Smith, Cecil Hollingsworth, Jonathan Blount, Denise M. Clark, and Edward Lewis. On Jan. 17, Brides magazine reported that Tony Award-winning actress Anika Noni Rose -- who famously voiced Tiana in the animated Disney movie "The Princess and the Frog" -- married actor Jason . Article length can vary from 500 to 2500 words. But we must fix the systemic brokenness of any Black cultural institution that devalues Black women. iEmerge in a duo. Receive updates about new stories in the industry daily or weekly. The allegations didnt even go very far. As a classicist, he's at ease with the ancient world but often brings a historian's insightful perspective to current . Online content may range from $100-250 per article. 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. 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.. These cookies ensure basic functionalities and security features of the website, anonymously. Copyright 2022 Rolling Out. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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. Co-founded by Ed Lewis and Clarence Smith in 1968, Essence has been one of the lifestyle go-to companies for African-American women. It also marks the first time a major womens style magazinewhich heavily features beauty-based advertisements and editorialis connected via ownership to a consumer-products company. We idolize Black capitalism, Black consumerism, and Black wealth over Black people, and I dont see this being an issue at all for them. "There's nobody who owns a factory like this that could make thousands, 10 thousand pieces or more, that pays New York 48 . Everybody aint lying, she said. Bain Capital took a minority stake in Sundial in 2015. 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. Although financial details remain confidential, Essences sale comes at a precipitous time for both the magazine and the larger media landscape. This denim skirt is from the thrift store for $3. Essence Ventures swooped in at a foreclosure sale to acquire BeautyCon, the so-called Super Bowl of the Beauty industry that nearly filed for bankruptcy last year after being ravaged by the pandemic, financial issues, staff layoffs, and unpaid bills. 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 years racial reckoning, is not-so-quietly asserting his power againand Black influencers are torn. 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. READ: Chance The Rapper Joins Essence Fest As Headlining Act. Bennett Raglin / Getty Images For SheaMoisture, Lifestyles publisher Meredith buying Time Inc. in Koch brothers-backed deal. The website for Bright is The Epoch Times (see below). But while Meredith hopes to cut costs, Essences new owners are planning to investheavily. With this sale, the legacy of essence is back in the control of Black owners. The Essence team denied the allegations in a statement Monday, calling them mischaracterizations and unfounded attempts to discredit our brand and assassinate personal character.. We may earn a commission from links on this page. Its branding was so popular that Time Inc., purchased the magazine and for the past 12 years, a publication dedicated to Black women was in White hands. 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. I would have to see change, see an apology, in order to participate or contribute. READ: Missy Elliott To Receive Essence 2018 Black Women In Music Honor. Starting with the magazine in 1970, it has expanded globally, eventually leading to the annual Essence Music Festival in 1995 and online website ESSENCE.com. In addition, the all black female executive team of Essence, including Ebanks, will have an equity stake in the business. Im not in the business of selling my soul for a couple of dollars or for popularity, DelSol said. Mr. Dennis, the founder of Sundial. The new company, to be. Members of the team were excited about the announcement. 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.. Anyone can read what you share. As we launch BRIGHT Magazine this week, I have in my head the guiding voices of SJN's co-founders. 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. Black women deserve to feel safe both in white America and Black America., In a Wednesday letter to Ms. Wanga, Black Female Anonymous asked for a guarantee that Mr. Dennis would not have a role in running Essence and that the three other executives they had identified leave the company by the close of business on Friday. Like SheaMoisure, she said. They dont take into account victims unless its close to home or it happens to them personally.. Thats commendable. It is owned by Essence Ventures, an independent African-American owned company focused on merging content, community, and commerce to meet the evolving cultural and lifestyle needs of women of color.. Yet the sale, no matter its community significance, suggests that minority-focused magazines will forever remain along the fringes of major media. Our objective is to make it into that by making it inviting, by diversifying subjects, by being inclusive in the brands, by being intentional in the commitments.. The magazine has a circulation of more than one million and its website attracts nearly seven million unique visitors each month. 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. Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of Essence magazine, from . 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.). So, these Black women in particular, if they come forward, where will they go? Instead, he framed his latest venture as part of a mission to fight racism in the retail industry. We can now invest in women of color as consumers.. And you can make your world or break it by your own thinking. -Susan Taylor, When is Kwanzaa and my daily Kwanzaa practice, "I saw the Angel in the marble, and carved until I set him free", Prime my subconscious, one hint at a time. Again, with skinnys I like my booty to be covered as much as possible. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Richelieu Dennis, CEO of SheaMoisture, at Fashion Week in New York in 2015. Black News and Black Views with a Whole Lotta Attitude. Dennis serves as CEO and executive chairman of Sundial under the Unilever partnership. What we now have is an opportunity to have the liquidity to make investments in Essence, said Mr. Dennis. Celebrity OTE - Spring Arts. American Essence brings you the best of America, past and present, to help you create a better future for yourself and the country. 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. But this month, he was back. Gerren Keith Gaynor March 13, 2013 918. We 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, Dennis said in a statement. This is historical.. 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.. Those findings have not changed the views of some. It does not store any personal data. The company said that there had not been claims or evidence of sexual harassment or misconduct and that it would review any new instances brought to HR. 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. Opinions expressed by Forbes Contributors are their own. We wish the ESSENCE team the best and will watch this celebrated brand continue to flourish in its next chapter," he stated. AMERICAN ESSENCE brings to you stories that remind us of the promise of America. You also have the option to opt-out of these cookies. - Monica Guza .. non-political, real-life look at goodness, decency, and excellence in the world. I thank the entire ESSENCE team for their tremendous passion and unrelenting commitment to driving the brands success. - Edward long Timeless reading that calms and reassures is hard to find. Essence Ventures was founded in 2017 by Richelieu Dennis, who also. 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. Terms of the transaction were not disclosed. We are hiring for both print as well as online articles. He vowed that Essence Ventures would bring heightened inclusivity to BeautyCon. A person who identified herself as a representative of the essays writers, contacted through the Black Female Anonymous Instagram account, declined to be interviewed for this article. Melody Spann-Cooper, chairwoman of Midway Broadcasting Corporation, which owns WVON, a Chicago radio station whose target audience is black, welcomed Essences return to being an all-black-owned company. Colorful earrings by @wheatgrass_scorpio. Founded in 1970, Essence has now expanded, reaching a global audience of more than 16 million across its many platforms. Instead, Essence is now in the hands of Dennis, a media newcomer who made his fortune in shea-butter cosmetics. In the same . 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. and a graphic artist! In a phone interview on Wednesday, Mr. Dennis, 48, said that he bought the magazine to serve and empower women of color., This will give Essence a platform and a voice to serve its consumers, which are women of color, Mr. Dennis said during a flight from his native Liberia to the United States. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 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. 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. Lol, FAMILY: The children and I @University Circles Parade the Circle, Modeling for: http://www.afropunk.com/ Brooklyn, New York, August 2014. Essence, a 48-year-old monthly lifestyle magazine, has a majority-black readership. Edward Lewis, co-founder of Essence Magazine, is defending his decision to sell the legacy publication to Time Inc. after recent criticisms from recently . Similar uprisings have taken place at The New York Times, The Philadelphia Inquirer, The Wall Street Journal, The Washington Post, The Pittsburgh Post-Gazette and the womens lifestyle website Refinery29.
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