Hair Care Founder Fred Luster. March 14, 1991 | By Kenan Heise. Fred Luster Sr., 62, president of Luster Products Company, founded the hair care and beauty aids firm on the South Side while working as a barber in the 1950s. A resident of the South Side, he died Sunday at Michael Reese Hospital. A native of Yazoo City, Miss., Mr. Luster came with his family to Chicago in 1934.