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Essence Magazine: From Female Leadership to OWNERSHIP

By now you've heard the great news about Essence Magazine releasing a statement on being "Black-Owned" once again. Let's talk about the differences between leadership and ownership and why this is such a BOSS Female move for this power house brand known in every black woman's house hold.

The Recap!

Essence Magazine has been on the scene as the go - to for black women all things life and inspiration. With the brand becoming a household name early on, TIME Inc purchased and ran the company for over the last 12 years. When a company has ownership, the leadership becomes secondary because ultimately what the owners want, the owners will get. So essentially Essence was a black woman's magazine owned by a white counterpart. Stay with me here...

So what's the big deal?

Essence announcement is basically highlighting that the company has been sold to Essence Ventures LLC which is owned by Richelieu Dennis, The founder of Shea Moisture who happens to be a black man, hence "Black-Owned". So now that OWNERSHIP is in black hands, the leadership can thrive further than the white counter-part could ever understand. As we know, no-one knows their people like black people know their people. #Truth Which is why this is a big deal for black people but more importantly BLACK WOMEN.

Ownership vs Leadership

The other big highlight is that the leadership has become part stake-holders in the company as well. So in layman's terms the black women who only worked for the company now own part of the company too! Because we all know, just because you've worked for a company for years on end doesn't mean you own a thing. The president of Essence Michelle Ebanks will join the board of directors while also continuing her role as president. Can we say #BlackGirlMagic ! So you see, this is a win for all black women. When one of us is successful, it defies the odds for all who come after. Way to go Essence!

Do you have plans to be an owner one day? Tell us about your goals and dreams in the comment section below!



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