Natural Hair Manufacturer Ranks Top 10 Black-Owned Business of 2017
The top 100 black business list is out and this natural hair giant made the list.
Sundial Brands, the owner and manufacturer of the popular natural hair care brand SheaMoisture is the 10th highest grossing black-owned business in the country according to a list released by Black Enterprise Magazine last week.
The BE 100s, is an annual list that ranks the nation’s largest black businesses. The list, which started 45 years ago, was the sole barometer for measuring the performance of Black enterprises whose financial achievements were not being tracked by the media or government.
“We found that it was equally important to produce an annual barometer of black business as it was to tell the monthly stories of founders who demonstrated tenacity, acumen, and ingenuity to grow their companies—despite racial discrimination and diminished access to capital and business opportunities.” said Earl “Butch” Graves Jr., the CEO of Black Enterprise.
Not only is Sundial Brands a newcomer to the list but the company, which has generated $3 million for 2017, is the only one in the hair and beauty products category listed.
Remaining in the top three spots from last year’s list are IT products and services company World Wide Technology which grossed $9.3 billion, staffing service ACT-1 Group in second with $2.8 billion and automobile parts company Bridgewater Interiors in third grossing $2.2 billion.
Caribbean restaurant Golden Krust lost over 65% of it revenue between 2016 and 2017 dropping them 44 spots to 76th place with $36.6 million. Oprah’s multimedia company Harpo Inc. which grossed $191 million in 2016 dropped down 20 spots this year to come in 48th with $72 million in revenue. A loss of over 40% in revenue.
See the full list of top 100 black businesses here.
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