From the acquisition of the largest German manufacturer and innovator in the field of natural raw materials Logocos Naturkosmetik AG to its 60-year anniversary in Canada, L’oréal in 2018 did everything possible to save the position of industry leader.
L’oréal completed the acquisition of a German cosmetics company Logocos Naturkosmetik AG, the cosmetics company, which, as they say, is a key pioneer in the field of natural cosmetics. All brands are vegan and biological certification on a number of products using native plant extracts and natural ingredients derived from organic farming.
“In accordance with the strategy of L’oréal “to grab a hold of every novelty “, this acquisition strengthens the position of the unit in respect of one of the main contemporary trends in beauty,” said Alexis Perakis-Valat, President of the consumer products division of L’oréal.
L’oréal announced the launch of the BOLD (Business Opportunities for L’oréal’s Development), a corporate venture Fund, which will receive shares in innovative startups with high growth potential. The Fund will invest in new business models in marketing, research and development, digital technology, retail, communications, supply chain and packaging, and will also support startups by using the experience, connections and mentoring.
According to the company, this launch is based on the strategy of open innovation of L’oréal, which connects it with the “global ecosystem” flexible, innovative startups. This strategy includes a partnership with the Founders Factory, Partech International Ventures, Station F, and Raise Ventures.
L’oréal celebrates 60 years in Canada by opening new offices. Today, the canadian branch of the company consists of four divisions, brands and 39 brought last year, sales in the amount of 1,192 billion.
L’oréal recently announced collaboration with the Swiss startup Gjosa. The company produces hairdresser’s sinks and specially designed shampoos, which together can reduce the amount of water used when washing with shampoo. The company claims that this approach reduces the consumption of water and energy by 70%.
According to the latest (third quarter) results, L’oréal has demonstrated strong growth of + 6.8% over the first nine months of this year. Commenting on the figures, Jean-Paul AGON, Chairman and chief Executive officer of L’oréal, said: “After accelerating in the third quarter, the highest quarterly growth rate in 10 years, L’oréal’s sales showed strong growth during the first nine months of the year. On the beauty market that continues to grow due to the strong performance of funds on skin care products, the company keeps a strong momentum.”