Join Jay as he gives you a real-life example of why a profitable Black-owned beauty supply business went out of business because there was no vertical integration to protect it from unscrupulous business practices by Korean distributors who control the Black beauty supply vertical.
Sisters Kayla and Keonna Davis were the youngest Black women to own a beauty supply store in California. The store was unfortunately forced to close because Korean product manufacturers would not sell them products for their store stating “they only sell to their people.”
This is a tactic the Koreans use to control the 1.1 Billion dollar US Black haircare market. Another tactics they adopt is their refusal to carry Black-owned products in their own stores and then knock off those products with Korean manufacturers to replace the Black-owned products – thereby freezing out the Black-owned products from mass retail distribution.
CLICK THE LINK BELOW TO LISTEN TO THE EPISODE:
Black Entrepreneur Blueprint – Episode # 272 with Jay Jones
“The Importance Of Vertical Integration – Own The Production, Own The Distribution, Own The Customer, Or Die”