L'Oréal invests in 15 aesthetic clinics with Functionalab backing

By Becky Bargh | Published: 28-Nov-2019

The Canadian firm runs medical aesthetic clinics under Dermapure and Project Skin MD

L'Oréal has reinforced its position in the professional beauty market by investing in Canadian dermocosmetics firm Functionalab Group.

The company has a network of 15 medical aesthetic clinics, under Dermapure and Project Skin MD, offering non-invasive treatments including laser, injections and cryolipolysis, as well as wrinkle and skin tightening treatments.

Functionalab will remain under the control of its management team from Montreal, Canada.

“Aesthetic procedures are increasingly integrated into the consumer’s beauty routine,” said Brigitte Liberman, L'Oréal’s Active Cosmetics Division President.

“With this investment, we will be able to better understand their expectations in regard to procedures, aesthetic gestures and offer them tailor-made beauty routines.

“This is also a great opportunity for the SkinCeuticals brand to establish a strong partnership with a Canadian leader of aesthetic medicine clinics.”

As part of the deal, L’Oréal’s SkinCeuticals will be available in Functionalab’s clinics.

Functionalab’s CEO and co-founder, Francis Maheu, added: “This strategic partnership with L'Oréal not only validates our leadership position in Canada, but also the unique positioning and attractiveness of our concepts and brands in the field of aesthetic medicine clinics.

“We are proud to be able to count on the support of L'Oréal to continue executing and accelerating our growth plan including a geographic expansion.”

The undisclosed investment, was carried out through L'Oréal’s corporate venture capital fund Bold Business Opportunities for L'Oréal Development.

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