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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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In 1954, at the encouragement of co-worker, Johnson left the Fuller company and founded Johnson Products with his wife Joan, [8] focusing on the African American male hair care market. Johnson borrowed $250 from a bank and another $250 from a friend to finance the venture. [5] The company's first product was Ultra Wave, a hair relaxer for men.
Black hair is the most common in Asia and Africa. [2] Though this characteristic can also be seen throughout Europe as well, it is considerably less common. [3] It can be found in Celtic populations such as in Ireland, Scotland and Wales. [4] Black hair can come in a variety of textures, just as any hair color.