The investment complements the company’s strategy to connect to the world’s most important startup scenes and to participate in the financing of promising early stage digital businesses.
In particular, via the relationship with Partech Ventures, L’Oréal aims to source innovations and services that can transform people’s relationship to beauty through prediction and personalization tools, artificial intelligence, marketplaces and new services.
According to Lubomira Rochet, Chief Digital Officer at L’Oréal, the partnership with Partech will create value across the board for the company’s brand and marketing teams and will connect them to new ideas and partners to better engage and serve consumers.
L’Oréal’s investment in a Partech Ventures fund follows the investment in the Founders Factory, a digital accelerator and incubator, announced early in 2016. These partnerships will support L’Oréal’s broader digital innovation strategy which also includes L’Oréal’s Research and Innovation Technology Incubator located in San Francisco that has launched a number of digital services.