L'ORÉAL : News Release: "L'Oréal crée son fonds de capital-investissement pour soutenir des start-ups innovantes"
05 Décembre 2018 - 6:00PM
L'Oréal creates a corporate venture capital fund
dedicated to accompanying innovative startups
Clichy, 5
December 2018 - L'Oréal announces the launch of BOLD Business Opportunities for L'Oréal Development, a
corporate venture capital fund that 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.
This launch builds on L'Oréal's
open innovation strategy that deeply connects the Group to a global
ecosystem of agile, innovative startups and includes partnerships
with Founders Factory, Partech International Ventures, Station F
and Raise Ventures.
Jean-Paul
Agon, Chairman and Chief Executive Officer of L'Oréal, said:
"As the beauty leader, it is our mission to
empower young entrepreneurs in our industry by helping them to turn
their vision into scalable businesses. The creation of our own
corporate venture fund is a logical step that completes our
existing partnerships with funds and incubators and will allow
L'Oréal to invest in promising beauty concepts at an early
stage."
Laurent
Schmitt, President of BOLD Business
Opportunities for L'Oréal Development, said: "With the creation of our own corporate venture fund,
we will share our expertise, networking and mentorship and provide
financial support to promising startups, while preserving their
autonomy. The fund strengthens our open innovation strategy of
connecting L'Oréal's expertise with an ecosystem of enthusiastic
entrepreneurs in the beauty sector to address together new consumer
needs and aspirations in our industry."
The fund will make its inaugural
investment with the acquisition of a minority stake in Sillages Paris, a French startup offering an online
service to create customised fragrances based on artificial
intelligence and machine learning. L'Oréal will support Sillages
Paris, under the direction of its founder Maxime Garcia-Janin, with
its expertise in marketing, research, digital and retail. The
start-up is part of L'Oréal's incubator at Station F, a global hub
of tech start-ups, since June 2018.
Maxime
Garcia-Janin, Founder of Sillages Paris, said: "At Sillages Paris, our ambition is to leverage digital to
make customised fragrances accessible to all. We are very proud of
this partnership with L'Oréal which will allow us to accelerate
towards our goal while retaining our independence."
Contact
BOLD Business Opportunities for L'Oréal
Development:
Startups can get in touch with the teams of the fund via
bold@loreal.com
About L'Oréal
L'Oréal has devoted itself to beauty for over 100
years. With its unique international portfolio of 34 diverse and
complementary brands, the Group generated sales amounting to 26.02
billion euros in 2017 and employs 82 600 people worldwide. As
the world's leading beauty company, L'Oréal is present across all
distribution networks: mass market, department stores, pharmacies
and drugstores, hair salons, travel retail, branded retail and
e-commerce.
Research and innovation, and a dedicated research
team of 3 885 people, are at the core of L'Oréal's strategy,
working to meet beauty aspirations all over the world. L'Oréal's
sustainability commitment for 2020 "Sharing Beauty With All" sets
out ambitious sustainable development
objectives across the Group's value chain.
For more information: http://mediaroom.loreal.com/en/
"This news
release does not constitute an offer to sell, or a solicitation of
an offer to buy L'Oréal shares. If you wish to obtain more
comprehensive information about L'Oréal, please refer to the public
documents registered in France with the Autorité des Marchés
Financiers, also available in English on our
Internet site www.loreal-finance.com.
This news release may contain some forward-looking
statements. Although the Company considers that these statements
are based on reasonable hypotheses at the date of publication of
this release, they are by their nature subject to risks and
uncertainties which could cause actual results to differ materially
from those indicated or projected in these statements."
Contacts L'ORÉAL (switchboard + 33
1.47.56.70.00)
Individual shareholders and
market authorities
Mr Jean Régis CAROF
Tel: +33 1 47 56 83 02
jean-regis.carof@loreal.com
Financial analysts and
Institutional investors
Mrs Françoise LAUVIN
Tel: +33 1 47 56 86 82
francoise.lauvin@loreal.com
Journalists
Mrs Polina HUARD
Tel: +33 1 47 56 87 88
polina.huard@loreal.com
For further information, please
contact your bank, stockbroker or financial institution (I.S.I.N.
code: FR0000120321), and consult your usual newspapers or magazines
or the Internet site for shareholders and investors,
www.loreal-finance.com,the L'Oréal Finance app or call the
toll-free number from France: 0.800.66.66.66.
Follow us on Twitter @loreal
News Release of 5 December
2018
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: L'ORÉAL via Globenewswire
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