L’oréal is actively working to strengthen its position in the market of beauty industry in the segment of professional skin care. One of the stages of development of this strategy is our investment in Functionalab.
By purchasing a minority stake in the canadian group Functionalab, a global cosmetics giant L’oréal has strengthened in the market of professional skin care. Recall that the company entered this segment in 2005 after the acquisition in the United States professional company for skin care – SkinCeuticals, which is part of the Active Cosmetics division of the group, which also includes CeraVe and Vichy.
Functionalab is a recognized leader among canadian clinics of aesthetic medicine and manages the brands Dermapure and Project Skin MD, specializing in professional skin care. With a network of 15 clinics of aesthetic medicine in Canada, the company offers a full range of non-invasive skin rejuvenation procedures, including laser technology, injection procedure, cryolipolysis clinics Dermapure and Project Skin MD.
“Aesthetic procedures are becoming increasingly integrated in the cosmetic treatment of the consumer, – said Brigitte Liberman, President, L’oréal active cosmetic division. – With this investment we can better understand their expectations in relation to procedures, aesthetic gesture and offer them a personalised beauty treatment. It is also a great opportunity to brand SkinCeuticals to establish a strong partnership with the canadian leader of the clinic of aesthetic medicine”. The business will expand distribution of SkinCeuticals all clinics Dermapure.
This minority investment in the Functionalab was done using BOLD – Business Opportunities for Development at L’oréal, corporate venture capital Fund, created by L’oréal in December 2018 to facilitate the acquisition of minority stakes in innovative start-UPS in the sector of beauty. In October, L’oréal has invested in the global venture capital Fund Cathay Innovation, from early growth through BOLD, as plans to invest in cosmetic startups in China.