L’Oréal invests in a Partech Ventures fund

by bold-lichterman

  • This investment should enable L’Oréal to participate in the financing of start-ups in the digital sector on an international scale.
  • Last May, the French group announced an investment in the English technology start-up incubator Founders Factory to accelerate its development in connected beauty.

The French cosmetics group L’Oréal has announced a “strategic investment” in Partech International Venture VII, venture capital fund managed by Partech Ventures. Financial terms of the transaction were not disclosed.

This investment should enable L’Oréal to participate in the financing of start-ups in the digital sector on an international scale. By getting closer to global nuggets, the French group intends to improve its customer experience by relying on “prediction and personalization tools, artificial intelligence, marketplaces and new services», Specifies L’Oréal in a press release.

An investment in Founders Factory last May

Our unique relationship with Partech Ventures will give us access to the best international B2B and B2C digital players and will contribute to the group’s overall open innovation strategy.», Says Lubomira Rochet, Chief Digital Officer of L’Oréal.

Last May, the French group announced an investment, the amount of which had not been specified, in the English incubator of technological start-ups Founders Factory to accelerate its development in the field of connected beauty. As part of its digital innovation strategy, L’Oréal also has a “Tech Incubator” in San Francisco, which has enabled the development of new digital services, such as the virtual makeup application Makeup Genius . In 2015, L’Oréal recorded sales of 25.26 billion euros, up 3.9% like-for-like.