This investment is an addition to L’Oréal’s previous investments in venture capital funds (Partech International Ventures, Founders Factory, Raise Investissement).
L’Oréal will thus be able to forge partnerships with start-ups and entrepreneurs active in the development of innovative products and services that facilitate access to consumers located in remote areas or informal environments.
“With Partech Africa, we want to support these talented entrepreneurs who invent new technological uses in all areas, distribution and consumption,” said Alexandre Popoff, Executive Vice-President Eastern Europe and Africa, Middle East. “L’Oréal is very happy to contribute to the development of young companies in Africa and to seize what is starting.”
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the Group generated sales amounting to 26.02 billion euros in 2017 and employs 82 600 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce. Research and innovation, and a dedicated research team of 3 885 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain. For more information: http://mediaroom.loreal.com/en/
“This news release does not constitute an offer to sell, or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com. This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.”
Contacts L’ORÉAL (switchboard + 33 18.104.22.168.00)
|Individual shareholders and market authorities||Financial analysts and institutional investors||Journalists|
|Jean Régis CAROF||Françoise LAUVIN||Anne-Laure RICHARD|
|Tel : + 33 (0)22.214.171.124.02||Tel : +33 (0)126.96.36.199.82||Tel : + 33 (0)1 47 56 80 68|