L’Oréal has made a strategic investment in the Founders Factory, a UK-based company that works across industries to accelerate growth of start-ups.
Founders Factory was founded by Brent Hoberman, Henry Lane Fox and Jim Meyerle in London, and aims to launch 200 technology businesses over the next five years.
As part of L’Oréal’s deal with Founders Factory, the two companies will work together to co-launch two start-ups from scratch every year, while they will also invest and grow five existing ‘early-stage’ start-ups in the beauty sector.
Lubomira Rochet, L’Oréal Chief Digital Officer and member of the L’Oréal Executive Committee, will represent L’Oréal in the new partnership. Rochet said: “This strategic investment will give L’Oréal direct access to a powerful global ecosystem of exciting start-ups and innovative technologies at their earliest stage allowing us to invest in and nurture innovative business models based on digital platforms to better serve consumers’ aspirations. Leveraging the Founders Factory’s ecosystem and experienced entrepreneurs in residence, L’Oréal will provide significant contribution to the development of incubated companies in the beauty sector by bringing our knowledge of the beauty industry, the beauty consumer and our marketing and innovation expertise in all beauty categories.”
L’Oréal is taking clear steps forward in its strategy to invest more heavily in start-ups. Just last month, L’Oréal announced a partnership with Hello Tomorrow, an international non-profit that supports the discovery and development of science-based start-ups.
