Steve Stoute never ceases to amaze me with the moves he makes. Today Carol’s Daughter, the company Stoute invested in 4 years ago launched a community and social media strategy with community site, myspace page and twitter profile. Stoute’s investment in the company founder Lisa Price built made a lot of noise as the $10m round included his friends Jay Z, Will & Jada Pinkett, Jimmy Iovine, Tommy Mottola. In 1999 after making the products in her kitchen, Price opened up a store in Brooklyn. Today the product can be found in Sephora Stores, several boutiques nationwide and in 7 flagship stores including Harlem, Los Angeles and Jersey City.
The community page launched with a Mother’s Day essay contest where selected entries will receive Carol’s Daughter baskets for a year. This is a timely move for the company as their e-commerce revenues are supposed to be “staggering” and record breaking. As an “old school” Carol’s Daughter fan, it is not a shock that they do well online, upon moving to Atlanta I searched all over the state for their hair products. In a space that is starving for content, it will be interesting to see how far Stoute takes the content offering online.