I have a tea party to attend soon and this is definitely a worthy topic of discussion. Black women, hair, and business? Don’t mind if I do! Necole Kane, the founder of XO Necole, has come out swinging in defense of the acquisition of Mielle Organics by Proctor & Gamble (P&G). Kane stated that she understands the concerns of some in the Black community about P&G potentially “watering down” the brand, but believes that the acquisition will allow Mielle to reach a wider audience and have a bigger impact. There is some chatter on Black Twitter on whether or not this customer segment will break or make the established brand.
Kane has highlighted the importance of Black-owned businesses being able to access the same resources and opportunities as larger, non-Black-owned companies. She pointed out that the acquisition will give Mielle access to P&G’s distribution networks and resources, allowing the brand to expand and reach more customers. Kane also noted that the acquisition will provide financial stability for the compan y and its employees, as well as opportunities for growth and development.
In addition, Kane emphasized the importance of supporting Black-owned businesses in the long term, rather than just during Black History Month or other specific times of the year. We can’t tell of which shade that remark was but the support is definitely a necessity for Black-owned businesses. She encouraged consumers to continue to support Mielle Organics and other Black-owned businesses, regardless of their ownership status. Kane concluded by stating that she believes the acquisition is a positive step for Mielle Organics and the Black community as a whole. She encouraged others to look at the acquisition in a positive light and to continue to support Black-owned businesses.
The complexity of the acquisition of a Black-owned business by a larger corporation and the various perspectives that exist on the matter are not overlooked. Necole Kane presented a nuanced view, acknowledging the concerns of the community but also emphasizing the potential benefits of the acquisition for the brand, its employees and customers, and the Black community in general.
The article (and chatter) begs the questions: If you were offered a billion-dollar acquisition deal for your services or products, would you be willing to sell your majority ownership at the loss of your brand’s key characteristics or value propositions? And lastly, could you have better prepared for this offering when you built your plan and strategy for your business/company?
Our team at Pray Hustle Profit lives for the tough questions! If you need help building your strategy or plan, book your session today!