who owns american essence magazine

I think its cool that it has pockets. [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. This was an important week for minority media. It is a brand I only see at Target. Bennett Raglin / Getty Images For SheaMoisture, Lifestyles publisher Meredith buying Time Inc. in Koch brothers-backed deal. Ebanks directly links this growth to Essences new all-black ownership. 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 . The magazine has a circulation of more than one million and its website attracts nearly seven million unique visitors each month. Mr. Dennis said that he was raised by a single mother who read Essence magazine and that his four daughters read it. Celebrity OTE - Spring Arts Guide Daniel Kaluuya. 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. Under the agreement, the $2.8 billion deal would include Time, Fortune and Sports Illustrated. Although financial details remain confidential, Essences sale comes at a precipitous time for both the magazine and the larger media landscape. 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. American Success - American Essence I could live life on the beach, but it was very cold near Lake Erie. 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. With Sale, Essence Is Once Again a Fully Black-Owned Magazine Essence has necessarily brokered introductions between Black ideas and Black people. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. I would have to see change, see an apology, in order to participate or contribute. This article was originally published in American Essence magazine. 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. 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. Dennis serves as CEO and executive chairman of Sundial under the Unilever partnership. Since 1970 Essencehas been the premiere fashion and culture magazine for women of color. 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. Sundial Brands announced in November a partnership with Unilever to acquire Sundial. We accept that because what else is the ultimate goal in this country?. 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. Essence, a 48-year-old monthly lifestyle magazine, has a majority-black readership. Essence (magazine) - Wikipedia 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. But Black capitalism looks like misogyny, sexism, and sexual assault. 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). 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. On Thursday (Jan. 4), Essencethe nation's leading African American-focused publicationwas sold by Time Inc. to a . 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.. The anonymous essay was published at a time when many other media companies have wrestled with race and discrimination against Black employees and other workers of color. 40 Founders Of Black-Owned Hair Care Brands You Should Know About | Essence At the helm of these beloved brands are Black business owners who've made it their mission from the beginning to. 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. They neglected their niche of Blackness their base demographic of Black women with kinky hair. With the sale of Essence magazine to a personal-care products mogul, the publication is once again fully black-owned for the first time since 2000. 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. . 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.. On Tuesday two days after the essay was posted Mr. Dennis named her the interim chief executive. 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. Ebony is a monthly magazine that focuses on news, culture, and entertainment. This denim skirt is from the thrift store for $3. 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. I dont even know if theres an apology substantial enough to fix it.. Essence Communications will be led by an all-black female executive team. Anyone can read what you share. In 2017, it was sold to the conglomerate Unilever, but Dennis remains Sundials CEO and executive chairman. It is a magazine that focuses on traditional American values and great American stories. Essence, as an archive of Black life, is also a cornerstone in the . 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. The first time I picked up an issue of Essence magazine, I noticed Susan Taylors picture. The Epoch Times is looking for writers who are passionate and knowledgeable in the field of classical art. The Essence team denied the allegations in a statement Monday, calling them mischaracterizations and unfounded attempts to discredit our brand and assassinate personal character.. 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. Colorful earrings by @wheatgrass_scorpio. 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. Im very focused on giving back, investing and growing my community, he said. American Essence brings you the best of America, past and present, to help you create a better future for yourself and the country. I see you, with my black panther intuition, They say, you made your bed, now lay in it! So, I make sure I dwell in a spiritual, spirit-filled bed. 1028 on display. 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. You win and you learn. 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, Essencepresident Michelle Ebanks told Business Wire, who will keep her place at the helm of the company will also joining its board of directors. The Essence motto is Black women come first, and Mr. Dennis said he intended to live up to it. 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). In addition, the all black female executive team of Essence, including Ebanks, will have an equity stake in the business. Throughout the years, I have seen her with various writers, artists, activists, and its easy to see that she is loved. 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. They dont take into account victims unless its close to home or it happens to them personally.. It focuses on culture, beauty, fashion, and entertainment. 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. This is a continuation of my quest to do that.. Historian Victor Davis Hanson on the Farmer's Virtues - American Essence Despite Dennis promises, Black influencers are still wary. Essence Communications announced Thursday that it was acquired from Time Inc. by Essence Ventures for an undisclosed sum. 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.). The release states further that Essence will focus on expanding its digital businesses and continue to plant its rich content in more global markets (the Essence Festival launched a Durban, South Africa, festival in 2016). 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. Essence Magazine Founder Says He Doesn't Regret Selling to Time Inc. iEmerge in a duo. Michelle Ebanks will continue to serve as president of ESSENCE Communications and will join its board of directors. Edward Lewis, co-founder of Essence Magazine, is defending his decision to sell the legacy publication to Time Inc. after recent criticisms from recently . Niecy Nash and Jessica Betts are the first same-sex couple on Essence In the same . 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 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.). IE 11 is not supported. The monthly lifestyle magazine covers fashion, beauty, entertainment and culture. This pocket Bluetooth printer lets you print your precious memories before they hit Instagram. The executive team will also have an ownership interest in the business. Creating Effective Employee Resource Groups | HISPANIC Network Magazine American Essence FO R E V E RYO N E W H O LOV E S T H I S C O U N . Founded in 2011 by Marina Curry, a Black woman, BeautyCon was a hub of live events before it started to falter in 2019. For the first time in nearly two decades, Essence magazine is once again a fully black-owned publication. Shea Moisture Founder Buys Essence Magazine, Returns to 100 Percent In 2000, the magazines founders, Clarence Smith and Ed Lewis, sold a 49 percent stake in Essence to Time Inc. Were counting on you, Caroline. 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.. As a subscriber, you have 10 gift articles to give each month. Lol, FAMILY: The children and I @University Circles Parade the Circle, Modeling for: http://www.afropunk.com/ Brooklyn, New York, August 2014. It began publishing Essence magazine in May 1970. (Time Inc.s golf magazines and entire UK division are also on the market.) Clearly Dennis has committed his life (and substantial economic resources) to supporting minority women. Performing Love: standing by college sisters side for her big day in the A (ATL). We can now invest in women of color as consumers., With Sale, Essence Is Once Again a Fully Black-Owned Magazine, https://www.nytimes.com/2018/01/03/us/essence-sale-black-owned.html. 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. Im not surprised people are not talking, DelSol said. 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. All rights Reserved. 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.. Co-founded by Ed Lewis and Clarence Smith in 1968, Essence has been one of the lifestyle go-to companies for African-American women. 40 Founders Of Black-Owned Hair Care Brands You Should Know About | Essence And I feel that over the years they expanded their branding and their marketing, which is fine, but I feel like they kind of neglected their base demographic. Essence magazine is a monthly publication whose target audience is African American women. It's nearly a 200-mile commute home for historian Victor Davis Hanson from the Hoover Institution at Stanford University, where he travels once a week, to his quiet family farm in the fertile Central Valley of California. 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.. As a classicist, he's at ease with the ancient world but often brings a historian's insightful perspective to current . who owns essence magazine | Orbit 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.. His departure was part of a larger revolt at the magazines parent company, Cond Nast. THE GRIOT PROJECT: Akron with Umojah Nation Reggae band and student Patrick Warner, poet in training. 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. The magazine focuses on fashion, pop culture, music and black life. Thoughts have power; thoughts have energy. Mr. Dennis sold Sundial Brands to Unilever that month. And the mid-sized Penske Mediaowner of Variety and Robb Reportjust snapped up Rolling Stone. 5:11 pm. Receive updates about new stories in the industry. Ousted Essence Magazine Boss Richelieu Dennis Has Bought Up BeautyCon The most valuable part of writing a business plan is the education you gain by researching and . 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.. Instead, Essence is now in the hands of Dennis, a media newcomer who made his fortune in shea-butter cosmetics. 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. 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. 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. Necessary cookies are absolutely essential for the website to function properly. Richelieu Dennis, CEO of SheaMoisture, at Fashion Week in New York in 2015. Essence Names Interim Chief After Claim of Abusive Work Culture, https://www.nytimes.com/2020/07/02/business/media/essence-magazine-accusations.html. Essence covers African-American beauty and style. Please email all questions and submissions to jennifer.diane@epochtimes.nyc. Long a touchstone of Black culture, Essence celebrated its 50th anniversary with its May issue, which featured the model Naomi Campbell on the cover. In the summer of 2020, a Medium article was published with damning accusations against Essences owner Richelieu Dennis. Because I hope they dont stray from the culture of Essence. This was an important week for minority media. 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. Copyright 2022 Rolling Out. Ms. Luu, the head of content, will step back from day-to-day operations during the course of the review, the statement said. I see this being extremely profitable, honestly, just because people are going to spend money however they want to. 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. Headwraps by Queen Fatima Chui. Writing a comprehensive business plan is the first step in starting a business. 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. It took me 16 years before I agreed to go into mass retail. We idolize Black capitalism, Black consumerism, and Black wealth over Black people, and I dont see this being an issue at all for them. Jan 03, 2018. As the Time-Meredith deal closes, Time Inc. has been quietly selling off its more niche titles, including the lifestyle-focused Sunset and now Essence. 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. 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. This major move marks Essences return to being a 100% black-owned company. And while BeautyCon devotees have described the event as an inclusive community that allows beauty and lifestyle enthusiasts to network, meet their favorite influencers and get discounted makeup, Black influencers have not always felt welcome. SheRea DelSol, a Black content creator on YouTube who focuses on natural hair content, told The Daily Beast she wont be participating in BeautyCon now that Essence and Dennis are at the helm. An anonymous post on Medium that said it was written by current and former Essence employees is part of a social media campaign for change at the groundbreaking Black media brand. Richelieu Dennis, the founder of Sundial Brands, said he bought the company to serve and empower women of color.. 2,017 people have signed it. The company owns . iSoloArtist. I hope this means there is an opportunity for us to stay in business, she said. 1035, and the Maine Classic Car Museum has No. New CEO of Ebony and Jet maps a comeback for Black magazine - Los Bain Capital took a minority stake in Sundial in 2015. The cookie is used to store the user consent for the cookies in the category "Performance". The anonymous essay suggested that many Essence employees believe he has not lived up to that statement. For an optimal experience visit our site on another browser. Time Inc. Sells Essence Magazine and Its Music Festival | Fortune I spent 30 years of my life breaking down the racial barriers of beauty, he said. 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. 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. U.S. Magazine Industry - Statistics & Facts | Statista 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. We wish you could have been in the room to see the excitement and pride on the Essence Teams' faces as we gave them the good news, according to a statement on the Essence website . Ebanks insists this sacred wall will still be honoredand that Essence is not directly owned by Sundial, but rather a separate Dennis-helmed entity. Terms of the transaction were not disclosed. 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.. Essence has always had a close connection to its readers. But while Meredith hopes to cut costs, Essences new owners are planning to investheavily. 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.

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