How Black people Made white companies rich Newports and Hennessy!
In 1954, Philip Morris introduced Newport cigarettes, specifically targeting Black smokers with advertising that featured Black celebrities and athletes.
By 1988, Black smokers accounted for 80% of Newport's sales, and the brand generated $2.5 billion in annual revenue.
This helped to make Philip Morris the world's largest tobacco company, with annual profits of over $10 billion.
In the early 20th century, Hennessy began to market its products to Black Americans. The company opened a bottling plant in Harlem, New York, and hired Black salespeople to promote the brand.
By the 1970s, Black Americans accounted for 25% of Hennessy's sales, and the brand generated $100 million in annual revenue.
This helped to make Hennessy the world's leading cognac brand, with annual profits of over $1 billion.
It is important to note that these financial data are from the past and may not reflect the current situation. However, they do provide a general overview of the significant financial contributions that Black people have made to the tobacco and alcohol industries.
The tobacco and alcohol industries have profited from marketing their products to Black people, despite the negative health consequences of smoking and drinking. These industries have also been accused of using harmful stereotypes and images to target Black people.
Despite the negative aspects of their involvement with these industries, Black people have also made significant contributions to their success. Black smokers and drinkers have helped to make these industries some of the most profitable in the world. Additionally, Black employees have worked in these industries and helped to make them successful.