Black History: Special Delivery!!
Founded in 1954 by husband and wife team, George and Joan Johnson, Johnson Products was the first African American owned company to be publicly traded in the United States. Headquartered in Chicago, IL, the company manufactured and distributed cosmetic and hair care products.
The Johnsons reportedly started the company with a $250 business loan. George Johnson was initially denied at one bank branch because bankers thought his idea would not be profitable. So he reportedly went to another branch and told them that he wanted to take his family on vacation. This time, the loan was approved. The Johnsons created and packaged the products in their basement before opening a production plant in Chicago during the1960’s.Continue reading “Johnson Products: First Black-Owned Company To Be Traded On The American Stock Exchange”