L’Oreal BOLD invests in Chinese fragrance brand To Summer

L’Oreal BOLD invests in Chinese fragrance brand To Summer

THE WHAT? L’Oreal has announced that its venture capital fund BOLD (Business Opportunities for L’Oreal Development) has closed a minority investment in Chinese luxury fragrance brand, To Summer. Financial terms of the deal were not disclosed.

THE DETAILS According to a report published by WWD, the investment was made via L’Oreal China’s investment company, Shanghai Meicifang Investment.

Li Shen, Founder of To Summer, told WWD, “We hope to collaborate with L’Oreal, with its century-long expertise in global beauty research and innovation, to jointly develop a roadmap for eastern fragrances.”

THE WHY? The investment will allow the brand to expand into global markets, L’Oreal said in its 2023 annual results statement, and offer global consumers curated olfactory experiences inspired by eastern art, culture, philosophy and landscapes.

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