L’Oréal has announced a minority investment in social selling platform Replika Software, Inc., made through its corporate venture capital fund bold business opportunities for L’Oréal development.
Previously: L'Oreal's SkinCeuticals Announces Leadership Changes
Replika Software, founded in 2016, enables brands to activate at scale their network of social sellers to sell online, inspire on social media and connect with consumers.
Lubomira Rochet, chief digital officer of L’Oréal, said: “Social commerce is an exciting new form of e-commerce that enables consumers, influencers, experts, beauty or shop assistants to sell brands and products on social platforms through formats such as live shopping or livestreaming.Today, e-commerce already represents 25% of L’Oréal’s revenues. The rise of social commerce is a great opportunity for our brands to reinvent the consumer beauty experience worldwide. We are very excited to partner with Replika Software, a pioneer in the field, to create social commerce at scale. Our ambition is to crack this new channel and create a healthy and dynamic ecosystem of social sellers for the beauty category."
Replika Software co-founder Kareen Mallet said, “As an industry, we’re just scratching the surface of how powerful social commerce can be when it’s combined with the massive scale offered by the global online community. Replika Software comes off an excellent year of growth and is powering new revenue generating social selling programs for brands of L’Oréal and others around the world. We are thrilled to strengthen our partnership with L’Oréal. Having their financial support and domain expertise will help us execute our vision even more rapidly and broadly.”
