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 first time I picked up an issue of Essence magazine, I noticed Susan Taylors picture. Black News and Black Views with a Whole Lotta Attitude. I see this being extremely profitable, honestly, just because people are going to spend money however they want to. Yet the sale, no matter its community significance, suggests that minority-focused magazines will forever remain along the fringes of major media. 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. 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 cookie is set by GDPR Cookie Consent plugin. I spent 30 years of my life breaking down the racial barriers of beauty, he said. 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. A clean bed is necessary for healing. 'Essence' Just Took the Lead in Serving Women of Color. Here's Why It Johnson family sells Ebony magazine The essay also had criticism for two other Essence leaders, the chief operating officer, Joy Collins Profet, and the chief content officer, MoAna Luu. Although financial details remain confidential, Essences sale comes at a precipitous time for both the magazine and the larger media landscape. 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. 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. 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. 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. Ebanks directly links this growth to Essences new all-black ownership. Fix it or fold.. With Sale, Essence Is Once Again a Fully Black-Owned Magazine Ms. Wanga joined the company as its chief growth officer on Monday. Receive updates about new stories in the industry daily or weekly. This will give Essence a platform and a voice to serve its consumers, which are women of color, Dennis told the New York Times earlier this week. They dont take into account victims unless its close to home or it happens to them personally.. 1035, and the Maine Classic Car Museum has No. 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. 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 . Would love your thoughts, please comment. 2,017 people have signed it. Got it from Dillards for $14. 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. 1028 on display. Time Inc. Sells Essence Magazine and Its Music Festival | Fortune 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. Correction: A previous version of this story incorrectly stated that Richelieu Dennis had the title of interim CEO. According to Black Enterprise magazine, Essence president Michelle Ebanks will continue in her role and join its board of directors. 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 GRIOT PROJECT: Akron with Umojah Nation Reggae band and student Patrick Warner, poet in training. Essence Ventures is an African-American owned company focused on merging content, community, and commerce founded by Richelieu Dennis, the CEO and founder of Sundial Brands. Essence has always had a close connection to its readers. Because I hope they dont stray from the culture of Essence. We know that we work for you and nothing makes us happier. In the essay, Black Female Anonymous tied their efforts to the larger social protest movement that has swept the country. It focuses on culture, beauty, fashion, and entertainment. Thats commendable. . 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. In a statement on Thursday, Latraviette Smith-Wilson, an Essence spokeswoman, described the essays accusations and demands as unsupported and outdated., The statement also addressed Ms. Ebanks, saying she has had no role in day-to-day operations since her departure, and said that Ms. Collins Profet had already accepted a new role with another company before the anonymous blog was posted.. We are hiring for both print as well as online articles. I like my face in this, though. 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. I would have to see change, see an apology, in order to participate or contribute. Jan 03, 2018. 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. Despite the allegations made against him, Dennis has broken some racial barriers within the beauty industry. 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. Essence has necessarily brokered introductions between Black ideas and Black people. Dennis serves as CEO and executive chairman of Sundial under the Unilever partnership. JUNETEENTH CELEBRATION with Umojah Nation Reggae Band and the Griot Project at the Art & Soul of Buckeye Park in Cleveland. Like SheaMoisure, she said. Essence has been an influence for African-American women since its first publication in May 1970. Radiant Life Magazine is a nonpolitical magazine that aspires to revive traditional culture with lifestyle content that uplifts and inspires readers. This is historical.. We may earn a commission from links on this page. The cookie is used to store the user consent for the cookies in the category "Other. Essence Ventures announced in a press release, in November, Unilever acquired the parent company for SheaMoisture, Sundial Brands. 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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. Copyright 2022 Rolling Out. The allegations didnt even go very far. Essence Communications will be led by an all-black female executive team. Sundial Brands announced in November a partnership with Unilever to acquire Sundial. iSoloArtist. (The festival was canceled this year and replaced with a digital event because of the coronavirus pandemic.). The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. 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 . Were very proud of that, and we see [BeautyCon] as a continuation of that work.. Were never lacking content; were never lacking a story; were lacking an opportunity to compete, she added. I am happy to be alive! Print fond memoriesThis pocket Bluetooth printer lets you print your precious memories before they hit Instagram. Again, with skinnys I like my booty to be covered as much as possible. Niecy Nash and Jessica Betts are the first same-sex couple on Essence This major move marks. 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. We accept that because what else is the ultimate goal in this country?. Essence is Black A.F., Nottingham said, which is beautiful, but how are they going to [integrate that with BeautyCon]? ! She ended her statement with the hashtag #BlackWomenRiseTogether., Black Female Anonymous replied to Ms. Wanga on social media. 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. 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.. In 2000, the magazines founders, Clarence Smith and Ed Lewis, sold a 49 percent stake in Essence to Time Inc. The top editor of Bon Apptit, Adam Rapoport, resigned last month after a photo of him costumed in stereotypical Puerto Rican attire resurfaced on social media. It took me 16 years before I agreed to go into mass retail. The monthly lifestyle magazine covers fashion, beauty, entertainment and culture. The whole idea when [BeautyCon] was founded was to be an inclusive place for all women to express their individual beauty, Dennis said. The cookie is used to store the user consent for the cookies in the category "Analytics". Under the pseudonym Black Female Anonymous, Essence magazine staffers demanded Dennis resignationalong with other leadership changesafter they said women were systematically suppressed by pay inequity, sexual harassment, corporate bullying, intimidation, colorism and classism and the company had been hijacked by cultural and corporate greed and an unhinged abuse of power. The staffers blasted execs for an ironic turn of events: A publication that was meant to empower Black women instead mistreated and abused the women who worked for it. The Essence motto is Black women come first, and Mr. Dennis said he intended to live up to it. Ebanks will also have equity stake in the business along with the executive team of ESSENCE. 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. According to reports, Merediths goal upon full ownershipis to save $400 million to $500 million over the next two years. 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. A Traveler's Guide to Tipping in a Changed World Necessary cookies are absolutely essential for the website to function properly. In 2000, Time Inc. acquired a 49 percent stake of Essence from its founders and acquired the remaining percentage five years later. 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. For more than 50 years, ESSENCE has been a leader in promoting Black-Owned beauty brands. Today, however, Time Inc. is set to be owned by Midwest magazine publisher Meredith Corporation, which bought the conglomerate late last year in a $2.8 billion take-over, partially funded by the conservative-focused Koch brothers. 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. 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. Shea Moisture Founder Buys Essence Magazine, Returns to 100 Percent Essence Appoints New CEO Following Allegations Owner Richelieu - Forbes Edward Lewis, co-founder of Essence Magazine, is defending his decision to sell the legacy publication to Time Inc. after recent criticisms from recently . Its target audience is the African-American community, and its coverage includes the lifestyles and accomplishments of influential black people, fashion, beauty, and politics.. Ebony magazine was founded in 1945 by John H. Johnson, for his Johnson Publishing Company.He sought to address African-American issues . filed for bankruptcy last year after being ravaged by the pandemic. They neglected their niche of Blackness their base demographic of Black women with kinky hair. Were counting on you, Caroline. Mr. Dennis, the founder of Sundial Brands, a Black beauty products company, bought Essence from Time Inc. in 2018. 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. , who will keep her place at the helm of the company will also joining its board of directors. Essence Communications Inc. (ECI) was founded in 1968 by Clarence O. Smith, Cecil Hollingsworth, Jonathan Blount, Denise M. Clark, and Edward Lewis. Richelieu Dennis, the founder of Sundial Brands, said he bought the company to serve and empower women of color.. 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. 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. 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 . So, these Black women in particular, if they come forward, where will they go? 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. Essence Names Interim Chief After Claim of 'Abusive Work Culture' Inside 'The Epoch Times,' a Mysterious Pro-Trump Newspaper - The Atlantic The anonymous essay suggested that many Essence employees believe he has not lived up to that statement. Get notified about exclusive offers every week! But while Meredith hopes to cut costs, Essences new owners are planning to investheavily. Ebanks insists this sacred wall will still be honoredand that Essence is not directly owned by Sundial, but rather a separate Dennis-helmed entity. 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.. who owns essence magazine | Orbit 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? The most valuable part of writing a business plan is the education you gain by researching and . It is with great joy that we announced that Essence is under new ownership and is now an independent African-American-owned company. Magazine articles are $250 per article. 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. The Epoch Times is looking for writers who are passionate and knowledgeable in the field of classical art. American Essence | The Epoch Times 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. 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. These cookies will be stored in your browser only with your consent. 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. This is a continuation of my quest to do that.. Members of the team were excited about the announcement. As a classicist, he's at ease with the ancient world but often brings a historian's insightful perspective to current . 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. Essence Ventures was founded in 2017 by Richelieu Dennis, who also. 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. Receive updates about new stories in the industry. Published January 6, 2018. On Tuesday two days after the essay was posted Mr. Dennis named her the interim chief executive. Alexis Nottingham, whose TressesOfAlexis YouTube channel focuses primarily on Black hair care, said she understood that the allegations were found unconfirmed, but still felt uncomfortable with the accusations. Those findings have not changed the views of some. Anyone can read what you share. 40 Founders Of Black-Owned Hair Care Brands You Should Know About | Essence They have allowed us to invest into the business so that we can bring in the infrastructure and resources.. Originally from Liberia, he founded Black beauty brand SheaMoisture and then Sundial Brands, the parent company to SheaMoisture. In addition, the all black female executive team of Essence, including Ebanks, will have an equity stake in the business. Essence covers African-American beauty and style. It is a magazine that focuses on traditional American values and great American stories. What we now have is an opportunity to have the liquidity to make investments in Essence, said Mr. Dennis. In addition, Ebanks, along with a Black female-led executive team, will have an equity stake in the business. Terms of the transaction were not disclosed. A target of Black Female Anonymous is Richelieu Dennis, the owner of Essence Ventures, the parent company of the magazine and Essence Communications. 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 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). [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. It began publishing Essence magazine in May 1970. Co-founded by Ed Lewis and Clarence Smith in 1968, Essence has been one of the lifestyle go-to companies for African-American women. American Success - American Essence The City of Cacapava, Sao Paolo, Brazil, owns No. We also use third-party cookies that help us analyze and understand how you use this website. iEmerge in a duo. However, she also doesnt think BeautyCon will suffer from the negative stain of Essence. 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. Essence magazine is a monthly publication whose target audience is African American women. 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. Essence Magazine Leaves Time Inc. And Is Now Completely - Okayplayer 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. 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. About | Essence 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. - Charles Middlemas Uplifting stories about exceptional Americans. No one cares about Black women, she continued.
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