French cosmetic company L’occitane has created a startup incubator, creating around itself an ecosystem of innovative companies that will help to predict the future needs of consumers.
The incubator is called “Obratori” and located in the heart of the innovation district in Marseille, France. In the premises Obratori 950 square meters will be placed a dozen startups working in beauty and Wellness sectors of the beauty industry, as well as in the field of business of digital solutions for retailers.
“The formation of startups is a global economic revolution whose effects would be very quick to manifest. Startups have become the most important players in the business world,” said reinold Geiger, CEO of L’occitane.
After the selection process, the startups receive support from the mentoring program to a maximum of 23 months and will be able to connect to a network of expert consultants representing the private business environment L’occitane.
“The individual. Some startups can be more need the experience of research and development, other interesting marketing know-how, third – international recognition,” said Ingo Dower, CEO Obratori.
In the 2017-2018 fiscal year, which ends March 31, the group L’occitane International recorded revenue of 1.31 billion euros. The company operates more than 1,500 stores worldwide and distributes its products through multi-brand beauty stores.
Recently, L’occitane launched its own ecommerce store in the Chinese online platform JD.com. The aim is to increase the company’s sales in China, which in the last financial year amounted to 159,1 million euros, compared with € 139 million in 2016-1917.
Note that working with startups is one of the main development strategies of many companies in the beauty industry. For example, in March of this year EpigenCare startup was a finalist in the Johnson & Johnson Innovation, the members of which it was necessary to develop innovative digital solutions for improving skin care.