L’Oréal is set to make its second major investment in digital and technology start-ups in the space of 12 months, with a contribution of ‘several million euros’ in an early stage fund managed by Partech Ventures, according to a report published by Reuters.
“These investments in new technology will enrich our brands and their communication, as well as other aspects such as supply chain, research and innovation,” Lubomira Rochet, L’Oréal Chief Digital Officer told Reuters. “Digital has become the heart of the group’s marketing strategy.”
Partech Ventures has invested in popular e-commerce retailers such as made.com and restaurant booking service lafourchette.com. Accenture, Nokia and Cisco are also said to have made investments in the fund.