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Black Biz owners taking back Hair Industry from Koreans (video)


March 7, 2016 Facebook Twitter LinkedIn Google+ March News



Who’s Watching the Store?

The Black hair care market is at least an $684 million dollar industry. Hardly any of that cash makes it back to the Black community. A walk into your local beauty supply store will typically reveal a slew of brands that are Korean-owned.

Oddly enough, in 1965 the Korean government banned the export of raw hair, making it impossible for U.S. business owners to manufacture wigs using Korean tresses. Not long afterward, the U.S. government banned the import of any wig that contained hair from China. As a result, Korean business owners were able to dominate supply and distribution of weaves, wigs and extensions. Aaron Ranen’s 2006 Black Hair documentary estimates that Koreans own close to 60% of the Black hair care industry market share.

Black women make up only 10% of the hair care market, but they purchase 70% of all wigs and extensions being sold in the United States. This documentary breaks down the money trail on black women’s hair: Who’s spending the money, what they are buying and who gets to keep it.

It seems that nearly everyone is getting paid from the amount of money that black women are giving away in the hair-care industry. Maybe sisters should start getting a piece of that pie too.

 

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