THE WHAT? L’Oréal has launched the new L’Oréal Bold Female Founders initiative, which is designed to support female-led startups.
THE DETAILS According to a press release, “BOLD Female Founders will focus on investment opportunities worldwide across the wider beauty ecosystem, including brands, beauty tech, biotech, and green science. This venture and entrepreneurship funding is aligned with the Group’s strategic commitment to promote gender equity.”
THE WHY? Discussing the investment, L’Oréal continued, “The strategic investment by BOLD is the latest step in our longstanding commitment to women’s equity and empowerment.”
Nicolas Hieronimus, Chief Executive Officer of L’Oréal, said, “L’Oréal has for many years been committed to women empowerment, through numerous programs and initiatives of the L’Oréal Foundation, such as L’Oréal UNESCO For Women in Science and Women for Climate. BOLD Female Founders aims at promoting the venture funding of women entrepreneurship, that remains at an unbelievably low level. By addressing the inequalities that passionate women founders face in their entrepreneurial journey, we bring our sense of purpose to life: Create the beauty that moves the world.”