Global industry leader Unilever acquisition of Sundial, the company behind major multi-cultural beauty brands including Shea Moisture and Nubian Heritage has more to offer. Sundial which will operate as a stand-alone unit under Unilever will continue to be ran by founder Richelieu Dennis and the two band together to empower black women who have taken on the journey of entrepreneurship as part of the agreement.
Unilever and Sundial create the New Voices Fund to amplify women of color entrepreneurs with an initial investment of $50 million. Hoping to gain attraction from other investors, the intention is to scale the fund to $100 million. The New Voices Fund allows both brands to grow and cultivate businesses owned by women of color who are top consumers of products owned and manufactured by Sundial.
“I’ve always wanted Sundial Brands to be an inspiration to other minority-owned companies of how a business against all odds can achieve excellence, have significant social impact in our communities and be successful on a world stage,” says Dennis. He continues, “I am excited Sundial and Unilever have created this partnership, rooted in a purpose-driven ethos, that represents an incredible opportunity to take our Community Commerce economic empowerment and impact model to another level.”