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[1] [3] By the 1960s had an estimated 80 percent of the black hair-care market and annual sales of $12.6 million by 1970. [1] In 1971, JPC went public and was the first African American owned company to trade on the American Stock Exchange. [1] [5] The company's most well-known product was Afro Sheen for natural hair when afros became popular.
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During this time, wig manufacturers were the only companies that advertised a Black standard of beauty. [39] Afro-textured hair worn in its natural state was still considered undesirable, [40] and media promoted a Eurocentric beauty ideal that included straight hair. [41]
However, many products that appear to cater to Black consumers, and may be perceived as Black-owned, are in fact owned by large, non-Black corporations. This has prompted increased awareness and consumer scrutiny, as highlighted by reports identifying and listing non-Black-owned brands that consumers may have previously assumed were Black-owned.
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The company operates in China but almost all of its products are sold in export markets. [1] Rebecca Hair operates in the US, Europe, and over 20 countries in Africa. The African market is particularly important for the company and accounts for about half of the company's overall revenue; in 2017 African revenue reached 884 million yuan (138.1 ...
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