Beauty company L’Oréal has launched a new corporate venture capital fund.
Bold Business Opportunities for L’Oréal Development will take minority stakes in innovative startups with high growth potential.
The fund will invest in new business models in marketing, R&I, digital, retail, communication, supply chain and packaging and support the startups with L’Oréal’s expertise, networking and mentorship.
The launch builds on the company’s open innovation strategy that connects it to a global ecosystem of innovative startups and includes partnerships with Founders Factory, Partech International Ventures, Station F and Raise Ventures.
Led by Laurent Schmitt, President, the fund made its inaugural investment with the acquisition of a minority stake in Sillages Paris, a French startup offering an online service to create customized fragrances based on artificial intelligence and machine learning.
L’Oréal will support Sillages Paris, led by Founder Maxime Garcia-Janin, under the direction of its founder Maxime Garcia-Janin, with its expertise in marketing, research, digital and retail.
The startup is part of L’Oréal’s incubator at Station F, a global hub of tech start-ups, since June 2018.
Startups can get in touch with the teams of the fund via firstname.lastname@example.org.
L’Oréal is a beauty company that owns an international portfolio of 34 diverse and complementary brands, present across mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce, generating sales amounting to 26.02 billion euros in 2017 and employs 82 600 people worldwide.