The L’Oréal Group has entered into a deal to set up its Latin American research and innovation center in the Brazilian state and city of Rio de Janeiro. The agreement is yet another development in Rio de Janeiro’s socioeconomic and environmental road to progress, primarily in hiring local specialized talent and scientific partnerships with the Federal University of Rio de Janeiro.
The project represents an investment of around €30 million (R$70,000,000) that will create 150 direct jobs by 2015. The purpose of the Memorandum of Understanding is to acquire land with a total surface area of over 28,000 square meters.
The laboratory will serve to accelerate the growth of innovative products tailored for the Brazilian and Latin American markets that may potentially also be marketed in other locations around the world.
Brazil is a very high growth market, and its extraordinary diversity and rich cultural heritage are a source of inspiration. It promises to be a significant growth opportunity for L’Oréal.
Brazilian officials are working to transform Bom Jesus Island into a Green District with a cluster of high-technology research centers that rely on renewable energies. The project meets LEED standards, and the L’Oréal Group’s sustainable development standards.
"This is a new step toward innovation and technological development. I am very honored that a large group like L’Oréal has chosen to develop its activities in Rio. I am confident that this investment will allow us to respond even better to the expectations of Brazilian women by offering them specific, high-quality products," commented Sergio Cabral, governor of Rio de Janeiro.