THE WHAT? L’Oreal has announced that it has signed an agreement to acquire the outstanding shares of water tech start-up, Gjosa. The French beauty giant partnered with the Swiss-based innovator to launch the L’Oreal Professional Water Saver professional showerhead in 2021. Financial terms of the deal were not disclosed.
THE DETAILS The acquisition chimes with L’Oreal’s sustainability commitments, which include a comprehensive and science-based approach to water management. The aim, says the French beauty giant, is to innovate and scale multiple applications of Gjosa’s technology for beauty.
THE WHY? Nicolas Hieronimus, Chief Executive Officer, L’Oréal Groupe, explains, “Acquiring Gjosa further strengthens our ability to build sustainability directly into our products and services, allowing us to seamlessly integrate water-conserving technology into new formulations and Beauty Tech innovations. Together, we can rapidly scale up sustainable beauty solutions with enhanced performance that are less resource intensive and introduce them to the wider beauty ecosystem.”