The magazine has a circulation of more than one million and its website attracts nearly seven million unique visitors each month. Black women deserve to feel safe both in white America and Black America., In a Wednesday letter to Ms. Wanga, Black Female Anonymous asked for a guarantee that Mr. Dennis would not have a role in running Essence and that the three other executives they had identified leave the company by the close of business on Friday. The ESSENCE team has extended the brands reach and influence across multiple platforms, solidifying its position as the premier destination for African-American women serving an audience of 16.3 million, said Time Inc. President Rich Battista in a memo to staff obtained by NBC News. It began publishing Essence magazine in May 1970. We dont want @Essence to fold, the group said. African-American company buys Essence Communications from Time Inc. On Tuesday two days after the essay was posted Mr. Dennis named her the interim chief executive. Receive updates about new stories in the industry daily or weekly. This cookie is set by GDPR Cookie Consent plugin. Starting with the magazine in 1970, it has expanded. It is owned by Essence Ventures, an independent African-American owned company focused on merging content, community, and commerce to meet the evolving cultural and lifestyle needs of women of color.. His firm, Sundial Brands, was founded to provide hair- and skin-care products to minority women, and was inspired by traditional shea-butter recipes found in Denniss native Liberia. This flare shirt is amazing! Savor each page [of American Essence]. Like SheaMoisure, she said. Black News and Black Views with a Whole Lotta Attitude. Mr. Dennis, the founder of Sundial. We value Black activism. This is a magazine for Americans who love their nation. 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. The future of Essence was uncertain when it was announced Meredith Corporation was buying Time Inc. in November. I think its cool that it has pockets. The coronavirus pandemic didnt help financial matters. 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 year's racial reckoning, is. Essence currently reaches an audience of more than 16 million across its various platforms, including its print magazine; digital, video and social platforms; television specials; books; and live events, such as the annual Essence Festival, a 22-year-old cultural celebration that attracted more than 450,000 attendees to New Orleans last summer. The essay also had criticism for two other Essence leaders, the chief operating officer, Joy Collins Profet, and the chief content officer, MoAna Luu. 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. Ousted Essence Magazine Boss Richelieu Dennis Has Bought Up BeautyCon 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. With this sale, the legacy of essence is back in the control of Black owners. This acquisition of Essence 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, Essencepresident Michelle Ebanks told Business Wire, who will keep her place at the helm of the company will also joining its board of directors. Long a touchstone of Black culture, Essence celebrated its 50th anniversary with its May issue, which featured the model Naomi Campbell on the cover. Since then, Essence has installed Caroline A. Wanga, a former Target executive, as its interim leader and has also pledged to hire law firms to conduct a review of workplace issues. An annual study found that the total number of magazine readers in the U.S. remained above 220 million in every year between 2016 and 2020, having previously hovered around the 210 and 215 million . U.S. Magazine Industry - Statistics & Facts | Statista This website uses cookies to improve your experience while you navigate through the website. I like my face in this, though. The executive team will also have an ownership interest in the business. In 2018, he bought the Essence brand, vowing to scale Black-owned brands and bring much-needed diversity to the beauty and lifestyle world. 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.. . 1028 on display. We accept that because what else is the ultimate goal in this country?. Essence has necessarily brokered introductions between Black ideas and Black people. These cookies will be stored in your browser only with your consent. As the Time-Meredith deal closes, Time Inc. has been quietly selling off its more niche titles, including the lifestyle-focused Sunset and now Essence. Queen Charlotte: A Bridgerton Story Is Our TV Pick Of The Week, Small Town Horror Story: The Racist Attack Of A FedEx Worker. 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 . 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. (The festival was canceled this year and replaced with a digital event because of the coronavirus pandemic.). American Essence highlights the morals and traditional. A clean bed is necessary for healing. Clearly Dennis has committed his life (and substantial economic resources) to supporting minority women. So lets GOOOOOOOOOO!!! Get notified about exclusive offers every week! Please email all questions and submissions to jennifer.diane@epochtimes.nyc. In addition, the all black female executive team of Essence, including Ebanks, will have an equity stake in the business. Essence is not owned by a beauty-products firm, she says. According to Black Enterprise magazine, Essence president Michelle Ebanks will continue in her role and join its board of directors. Opinions expressed by Forbes Contributors are their own. HOME - American Essence Mike Rowe: America's Favorite Apprentice Channaly Philipp Mike Rowe, America's perpetual apprentice, has been giving viewers a front-row seat to our country's dirtiest jobs for nearly 20 years. Inside 'The Epoch Times,' a Mysterious Pro-Trump Newspaper - The Atlantic Why the FT bought a majority stake in Endpoints News, Vice News Tonight canceled, company announces layoffs, The Messenger hires Scotti as a biz and finance editor, Traditional Art (Paintings and Sculptures from Renaissance to early 1900s), Classical Architecture and Houses of Beauty in America as well as Europe, History of Performative Art (opera, theatre and ballet), All applicants must send a sample of their writing along with their resume. You also have the option to opt-out of these cookies. 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. 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.. Gerren Keith Gaynor March 13, 2013 918. 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. Ebanks issued a statement which reads in part, This acquisition of ESSENCE 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, 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.. I spent 30 years of my life breaking down the racial barriers of beauty, he said. The Daily Beast attempted to reach out to former and current Essence magazine employees to get their views on Dennis latest business ventures in light of the 2020 controversy. The move returns 48-year-old Essence to black ownership for the first time in over a decade, and solidifies the magazines status as the most important minority-owned publication in America. Essence Names Interim Chief After Claim of Abusive Work Culture, https://www.nytimes.com/2020/07/02/business/media/essence-magazine-accusations.html. As we launch BRIGHT Magazine this week, I have in my head the guiding voices of SJN's co-founders. This was an important week for minority media. - Monica Guza .. non-political, real-life look at goodness, decency, and excellence in the world. I thank the entire ESSENCE team for their tremendous passion and unrelenting commitment to driving the brands success. Subscribe to American Essence 1035, and the Maine Classic Car Museum has No. Essence Ventures started in 2017 and is chaired by founder, entrepreneur, investor and philanthropist Richelieu Dennis. [3] [4] Lewis and Smith called the publication a "lifestyle magazine directed at upscale African American women". 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. And the mid-sized Penske Mediaowner of Variety and Robb Reportjust snapped up Rolling Stone. In the Medium essay and on social media, Black Female Anonymous has called for the resignations of Ms. Profet and Ms. Luu; demanded that Ms. Ebanks leave the board; and demanded that Mr. Dennis have nothing to do with running Essence. Mr. Dennis sold Sundial Brands to Unilever that month. But opting out of some of these cookies may affect your browsing experience. The most valuable part of writing a business plan is the education you gain by researching and . This is historical.. HOME - American Essence We are looking for experienced, freelance writers that are passionate and knowledgeable in the field of classical art to cover areas in the following categories: For more information, visit their websites: Radiant Life, American Essence, and The Epoch Times. 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Jean Carroll Rape Trial, JPMorgan Stock Set For Second-Best Day This Year After First Republic Takeover, First Republic Taken Over By JP Morgan After Regulators Shut It Down, Texas Mass Shooting: Police Have Zero Leads On Suspect Accused Of Killing 5 In Execution-Style Shooting, Weekend Box Office: Super Mario Bros. Will Hit $1 Billion In Sales On Sunday, Studio Says, White House Correspondents Dinner: Biden And Roy Wood Jr. Take Shots At Fox News And GreeneAnd Bidens Age, This Stock Market Indicator Is The Weakest Its Ever BeenAnd Other Warning Signs Are Flaring, Essence CEO Richelieu Dennis Resigns Following Scathing Op-Ed, These Mother-And-Son Entrepreneurs Went From Selling Soap On Harlem Streets To An $850 Million Fortune. We have an opportunity to control our media and tell our own story and that is often muted when traditional media companies that represent the African-American culture are owned by someone outside of an African-Americans hands it loses something. 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 Ventures LLC, an independent African-American-owned company, Essence Ventures announced in a press release. I dont believe in losses, she wrote. Founder of SheaMoisture, Richelieu Dennis, Acquires Essence - The Root Bennett Raglin / Getty Images For SheaMoisture, Lifestyles publisher Meredith buying Time Inc. in Koch brothers-backed deal. Essence Ventures was founded in 2017 by Richelieu Dennis, who also. The essay said Mr. Dennis tried to force Essence employees and contractors to sign nondisclosure agreements to protect him and his family from liability or disparagement after a string of wrongful layoffs. It also said that Mr. Denniss wife, Martha Dennis, whom it described as the companys head of human resources, should not serve in that role, calling the arrangement a blatant conflict of interest. (An Essence spokeswoman denied that Ms. Dennis was the head of human resources, saying that she had advised the company in its ongoing HR transition as the company searched for a full-time HR lead.). This major move marks. Citing an abusive work culture, the essays writers also said that Black women at the company are systematically suppressed by pay inequity, sexual harassment, corporate bullying, intimidation, colorism and classism.. When we think about power dynamics and who has the power, if the allegations are true regardless of an investigation that took placewhere can these women go? New CEO of Ebony and Jet maps a comeback for Black magazine - Los 2,017 people have signed it. American Success - American Essence 5:11 pm. This was an important week for minority media. We have two magazines: Radiant Life and American Essence as well as an online platform: Bright. ! She ended her statement with the hashtag #BlackWomenRiseTogether., Black Female Anonymous replied to Ms. Wanga on social media. Anyone can read what you share. Throughout the years, I have seen her with various writers, artists, activists, and its easy to see that she is loved. "There's nobody who owns a factory like this that could make thousands, 10 thousand pieces or more, that pays New York 48 . 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.. Historian Victor Davis Hanson on the Farmer's Virtues - American Essence 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. Essence Ventures LLC, an independent black-owned company today announced its acquisition of Essence Communications Inc., home of Essence magazine, from . The conversations @richelieudennis and I started a few months ago about his strategic vision for @Essence and the opportunity to be on a team furthering the health/wealth of the global black diaspora, across a portfolio of businesses including @essence, was a win. A win stitched together by a 50-year legacy of black creatives, businesses, and community that I would be honored to be a part of., Ms. Wanga noted that she had learned there are things that need to be better for our team and culture and Im ready to begin that work, adding, Im committed to flourishing while fixing and fastening what needs to work to be in service to our teams, communities and partners. American Essence Magazine is also a nonpolitical magazine that aims to showcase the values and traditions of American culture with stores of the people and places, past and present, that helped and continue to help shape this nation. The authors called for the resignation of Dennis and other executives, urged for an advertising boycott and painted a damning portrait of Dennis, including alleging that his surface-level commitment to Black women is driven by greed and a debaucherous sexual appetite, that he has sexually harassed multiple women and has used NDAs to protect his family against liability or disparagement. Ms. Luu, the head of content, will step back from day-to-day operations during the course of the review, the statement said.
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