THE WHAT? L’Oréal has announced that it has made a minority investment in Swiss environmental tech start-up Gjosa via its corporate venture capital fund, BOLD (Business Opportunities for L’Oréal Development).
THE DETAILS Gjosa develops water-saving solutions and the French beauty giant and Bienne-based start-up have been working together since 2015 to optimize shampoo rinse technologies in a bid to save water.
“We are thrilled to enter this new stage of partnership with L’Oréal. [Its] leadership in beauty R&D, ‘Beauty Tech’, and [its] iconic brands, will enhance our roadmap in water-technologies to reach consumers all around the world,” said Amin Abdulla and Luc Amgwerd, Co-founders of Gjosa. “This strengthening of our partnership will enable us to create innovations that will have the best water-tech solutions for people in salons and at-home with the highest quality, and we are elated to work together to reach this goal.”
THE WHY? Barbara Lavernos, Chief Research, Innovation & Technology Officer at L’Oréal, explains, “At L’Oréal, we aim to offer the best sustainable beauty science and to be the champion of ‘Beauty Tech’. By combining Gjosa’s water-tech innovations with L’Oréal’s knowledge of beauty rituals, data, tech and personalization, we will invent together new augmented beauty experiences for our consumers while protecting the coveted and precious resource that is water.”