Adenike Olanrewaju contributed reporting. 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.. Last year, The Wrap reported that a year after a huge event that attracted thousands of attendees, BeautyCon was still struggling to pay vendors. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. For the first time in nearly two decades, Essence magazine is once again a fully black-owned publication. 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 . Celebrity OTE - Spring Arts. 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. Everybody aint lying, she said. 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. 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. I like my face in this, though. Richelieu Dennis speaks onstage during the 2018 Essence Festival in 2018. 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. They have allowed us to invest into the business so that we can bring in the infrastructure and resources.. Online content may range from $100-250 per article. 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. - Charles Middlemas Uplifting stories about exceptional Americans. 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. An 'American Idol' judge walks his daughter down the aisle, more Top editors from Refinery29, the New York Times, Bon Apptit and the Philadelphia Inquirer resigned last month in response to journalists calling out their own organizations and now Essence can be added to the list of companies making changes. ESSENCE Co-founder Ed Lewis, former editors-in-chief Marcia Ann Gillespie and Susan L. Taylor speak on the evolution of the magazine and brand. Essence Magazine (1970- ) - BlackPast.org The original name in concept was Sapphire. 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). 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. Print fond memoriesThis pocket Bluetooth printer lets you print your precious memories before they hit Instagram. It is a brand I only see at Target. 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 . Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. With this sale, the legacy of essence is back in the control of Black owners. Essence's New Owner Sees More Than a Magazine | BoF - The Business of Im not surprised people are not talking, DelSol said. Edward Lewis, co-founder of Essence Magazine, is defending his decision to sell the legacy publication to Time Inc. after recent criticisms from recently . The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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. A target of Black Female Anonymous is Richelieu Dennis, the owner of Essence Ventures, the parent company of the magazine and Essence Communications. 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.. This major move marks Essences return to being a 100% black-owned company. Correction: A previous version of this story incorrectly stated that Richelieu Dennis had the title of interim CEO. The first time I picked up an issue of Essence magazine, I noticed Susan Taylors picture. With Sale, Essence Is Once Again a Fully Black-Owned Magazine Were counting on you, Caroline. 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. 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. 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. Because I hope they dont stray from the culture of Essence. But opting out of some of these cookies may affect your browsing experience. We dont want @Essence to fold, the group said. 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.. Theyre going to look like whistleblowers, theyll look like sellouts, theyll look like theyre bringing down the quintessential definition of what Black excellence looks like. 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.. ABOUT US - American Essence Again, with skinnys I like my booty to be covered as much as possible. It began publishing Essence magazine in May 1970. Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of Essence magazine, from . I would have to see change, see an apology, in order to participate or contribute. What we now have is an opportunity to have the liquidity to make investments in Essence, said Mr. Dennis. 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. Its branding was so popular . Forbes reports that he and his cofounder and mother Mary owned 51% of the company and walked away with an estimated $850 million fortune, making them two of the wealthiest Black entrepreneurs in the world. Mr. Dennis, the founder of Sundial Brands, a Black beauty products company, bought Essence from Time Inc. in 2018. I dont know, but I dont have high hopes of BeautyCon being a more Black space.. American Essence brings you the best of America, past and present, to help you create a better future for yourself and the country. 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. And the mid-sized Penske Mediaowner of Variety and Robb Reportjust snapped up Rolling Stone. In 2018, he bought the Essence brand, vowing to scale Black-owned brands and bring much-needed diversity to the beauty and lifestyle world. Ebanks will also have equity stake in the business along with the executive team of ESSENCE.