Beauty companies are looking to make acquisitions earlier in companies' lifecycles; at the same time, L'Oreal has shown, as with its Founders Factory relationship, that it wants in on emerging technologies at an early stage. Now, the beauty giant is taking this concept one step further with a strategic investment in the early stage fund Partech International Venture VII managed by Partech Ventures.
The move will allow L'Oreal to invest in emerging digital businesses that could potentially shape its prediction and personalization prowess, as well as boost its capabilities in artificial intelligence and create new marketplace and service offerings.
“Our unique relationship with Partech Ventures will give us access to a high quality and comprehensive sourcing of the best B2B and B2C digital players and contribute to the group’s global strategy of open innovation," said Lubomira Rochet, chief digital officer for L’Oréal. "It will create value across the board for our brand and marketing teams and will connect us to new ideas and partners to better engage and serve our consumers."
“L’Oréal has been amongst the first groups to understand the full potential of digital transformation..."
“We are very proud to work with L’Oréal, global leader of the beauty industry, as one of our strategic partners,” said Philippe Collombel, co-managing partner of Partech Ventures. “L’Oréal has been amongst the first groups to understand the full potential of digital transformation, and to integrate new tech partners and tools within its offer and organization. This partnership embodies Partech Ventures’ international DNA and will enable win-win business opportunities for L'Oréal and our portfolio companies.”