L'Oréal: makes an investment in Shinehigh Innovation
September 22, 2023 at 01:19 pm IST
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L'Oréal announces a minority investment in Shinehigh Innovation, an innovation-driven biotechnology company in China,
. This investment will enable the group to establish a long-term partnership for the co-development of innovative and sustainable beauty solutions.
This is L'Oréal's first open innovation investment in China via Shanghai Meicifang Investment with the support of BOLD (Business Opportunities for L'Oréal Development), the L'Oréal Group's strategic innovation venture capital fund.
Barbara Lavernos, L'Oréal's Executive Vice President in charge of Research, Innovation and Technology, said: 'China's unique and dynamic startup ecosystem is an extremely important catalyst for our future innovation strategy at L'Oréal. Through their world-leading application of supramolecular technology in the beauty industry, this partnership will enable us to bring revolutionary new performance to the beauty market. '
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L'Oréal is the world leading cosmetic group. The group offers skincare products (39.9% of sales), makeup products (19.7%), haircare products (15.4%), fragrances (12.6%), hair colouring products (8.3%) and other (4,1%). Net sales break down by family of products as follows:
- consumer cosmetics (36.9%): L'Oréal Paris, Garnier, Maybelline New York, NYX Professional Makeup, Essie Niely, Dark and Lovely, Mixa, MG and Carol's Daughter brands;
- luxury cosmetics (36.2%): Lancôme, Kiehl's, Giorgio Armani Beauty, Yves Saint Laurent Beauté, Biotherm, Helena Rubinstein, Shu Uemura, IT Cosmetics, Urban Decay, Ralph Lauren, Mugler, Viktor&Rolf, Valentino, Azzaro, Prada, Takami, A?sop, etc.;
- active cosmetics (15,6%): La Roche-Posay, Vichy, CeraVe, SkinCeuticals, Skinbetter Science, etc.;
- professional products (11,3%): L'Oréal Professionnel, Kérastase, Redken, Matrix and PureOlogy brands.
Products are marketed through mass distribution and distance selling, selective distribution, hair salons and pharmacies.
At the end of 2023, L'Oréal has 37 production sites worldwide.
Net sales are distributed geographically as follows: Europe (31.6%), North America (27%), North Asia (25.9%), Asia/Pacific/Middle East/Africa (8.4%) and Latin America (7.1%).