The L’Oréal group has just announced that it is partnering with Abolis, a biotechnology company, and Evonik, a leader in pharmaceutical chemistry. A tripartite partnership that aims to develop the next generation of bio-sourced, innovative and sustainable beauty ingredients.
A tripartite partnership between L’Oréal, Abolis and Evonik
The L’Oréal group continues to advance its pawns in the biotechnology industry. The multinational is proud to announce that it is acquiring a stake in the company Abolisheda French specialist in the design of ingredients derived from micro-organisms, via a fundraising of 35 million euros. A financial investment in which also participate EvonikGerman chemist, and investment companies Deep Tech & Climate Fund, Clay Partners, Icos Capital And Liberset.
In addition to this financial support, the L’Oréal group has concluded a tripartite partnership with Evonik and Aboliswith the aim of industrially supporting the development of the latter and accelerating the production of specific and sustainable ingredients intended for cosmetics. The group specifies that it will thus be able to boost its green development promised by its program L’Oréal for the Future launched in 2020 which prioritizes bio-sourced ingredients in its formulations.
“We are proud to invest in Abolis and to extend our collaboration, thus forming a powerful ecosystem with our historical partner, Evonik, commented Barbara Lavernos, Deputy General Manager in charge of Research, Innovation and Technology at L’Oréal Group. By mobilizing the capacities and expertise of each of our companies in terms of research, innovation and production, we are buildings an integrated value chain which we believe has the potential to be a game changer for bio-based ingredients in the beauty industry.”
An investment in the cosmetic care market driven by exponential sales figures. Six months ago, the L’Oréal group published its financial results, announcing an increase of 9.4%, to 11.24 billion euros over the period January – March 2024. And, this is the dermatological beauty which performed best during this period, with an increase to +21.9%notably carried by the brands La Roche Posay, Vichy and CeraVe.
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