Laboratoires d'Armor receives €1m investment boost
Money spent on developing formulations and a packaging revamp
French cosmetology group, Laboratoires d'Armor, acquired in 2009 by two business partners, Eric Bordon, formerly of Clarins, and investment banker Francois Loubignac, has received a new investment of approximately €1m.
The company, based at Pleubian in Brittany, produces natural creams for the face and body based on algae and marine agents, which are sold mainly into the beauty care clinics and institutes. The new investment will go into revamping packaging and developing the various cream formulations.
Owners Bordon and Loubignac say they have created a new brand - La Presqu'ile - with the balance of the investment made up of some 30 products, mainly body care creams. These products will be sold on a house-to-house basis however because the majority of French women would not visit a beauty clinic to pick up such products, according to the owners. Armor is also set to extend its selling concept to other European countries in due course.
Under the brand name of Algologie, Amor sales reached €2.9m in 2010 and are expected to reach €3.3m by the end of this year.
