By 1942 pioneering beauty entrepreneur Rose Morgan owned and operated the largest African American beauty parlor in the world. She began marketing her own line of cosmetics and staging fashion shows. With her ever-increasing success, Morgan bought a new building. In 1955, Rose Morgan’s House of Beauty opened in a more stylish setting with a dressmaking department and charm school in addition to the existing salon facilities. In the early 1960s, she added a wig salon. Over time, she employed and trained more than 3,000 people. In 1965, Morgan was one of the founders of New York’s only black-owned commercial bank, the Freedom National Bank.
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