L'Oréal acquires stake in Japanese start-up Sparty
L’Oréal has acquired a minority stake in Sparty, a Japanese start-up specialising in personalised beauty products. The purchase was carried out through L’Oréal’s investment fund Bold, and is the French cosmetics giant’s first venture capital operation in Japan.
“Japan is one of the most sophisticated and pioneering beauty markets worldwide. Tailor-made experiences are greatly appreciated there, and we are witnessing the emergence of new trends and innovations in the field of bespoke services and products, especially in the beauty sector. We are delighted to collaborate with Sparty, a pioneer in personalised beauty, which is set to play a key part in the booming Japanese market for direct consumer relations,” said Jean-Pierre Charriton, managing director of L’Oréal Japan, in a press release.
Sparty is based in Tokyo, and is a specialist in personalised beauty and direct-to-consumer sales, having developed brands like Medulla, which focuses on hair care, and skincare specialist Hotaru.
The Bold investment fund, (the name is the acronym of ‘business opportunities for L'Oréal development’), was founded in 2018 with the goal of acquiring minority stakes in innovative start-ups within the beauty sector. Bold has also invested in Sillages Paris, a French start-up offering an online service for the creation of personalised perfumes using artificial intelligence, in Carbios, which develops solutions to manage end-of-life plastics, and in Gjosa, a Swiss company researching new ways to economise on water.
In 2021, the L’Oréal group generated a revenue of €32.28 billion.
Copyright © 2022 FashionNetwork.com All rights reserved.