It was announced Wednesday that Essence Magazine is now 100% black-owned. It was acquired by an Independent African American owned company that was founded by Richelieu Dennis, who is also the co-founder of Sundial Brands. Sundial Brands are behind Nubian Heritage, MCJW Beauty Culture (named after Madame C.J. Walker), Nyakio and most notable Shea Moisture. Why is this move so important to quote Michelle Ebanks, the magazine’s president, the purchase and change of ownership constitutes “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,” This will be the first time in 20 years that the 48-year-old monthly ESSENCE magazine has been entirely Black-owned.
This is a great direction for the brand whose motto is “Black women come first,” Mr. Dennis is excited about the future of the magazine and the opportunity for growth and development in the black community and culture “What we now have is an opportunity to have the liquidity to make investments in Essence, We can now invest in women of color as consumers.”
Essence magazines has a long standing tradition of celebrating the many hues and layers of black women. With the demand of more positive images of black women the Vision the Mr. Dennis has along with his driven and passionate team. Essence is sure to become even more of a legendary and dynamic magazine.