Beauty brand L’Oréal has announced it has made a ‘strategic investment’ in Partech Ventures, a Paris-based venture capitalist firm that will complement the group’s ‘comprehensive strategy to connect to the world’s hottest startup scenes and the opportunity to participate in the financing of promising early stage digital businesses’.
The association with Partech Ventures will enable L’Oréal to offer increased personalisation tools to its consumers, powered by artificial intelligence and new services.
“Our unique relationship with Partech Ventures will give us access to a high quality and comprehensive sourcing of the best B2B and B2C digital players and contribute to the Group’s global strategy of Open Innovation,” said Lubomira Rochet, Chief Digital Officer for L’Oréal.
“It will create value across the board for our brand and marketing teams and will connect us to new ideas and partners to better engage and serve our consumers.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.