The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The beauty giant is backing the five-year-old Swiss company, which develops technology aimed at saving water and energy, it announced in a statement. The investment was made through its corporate venture capital fund, Business Opportunities for L’Oréal Development (BOLD).
The two businesses have worked together since 2015 to optimise shampoo rinsing technologies. In 2018, L’Oréal and Gjosa launched a water-saving shower head and earlier this year, they unveiled a sustainable salon hair care system that can also be used at home.
”By combining Gjosa’s unique water-tech innovations with L’Oréal’s knowledge of beauty rituals, data, tech, and personalisation, we will invent together new augmented beauty experiences for our consumers while protecting the coveted and precious resource that is water”, Barbara Lavernos, L’Oréal Group’s chief research, innovation and technology officer, said in a statement.
The San Francisco-based company is hoping to tap growing consumer demand for financing for cosmetic treatments among other services.
Once thought of as long-term disruptors who would change the way we shop forever, multi-brand online retailers that sell cosmetics, skincare, fragrance and more are facing multiple headwinds.
Prestige makeup is fashion’s category expansion du jour. But even the market’s most powerful players could learn a thing or two from its celebrity-backed competition.
Shining light on the $12.3 billion SPF boom.