L’Oréal invests in environmental tech startup Gjosa
L’Oréal announces a minority investment in Swiss environmental tech startup Gjosa, made through its corporate venture capital fund BOLD Business Opportunities for L’Oréal Development.
Based in Bienne, Switzerland, Gjosa develops unique water-saving solutions. L’Oréal and Gjosa have been working together since 2015 to optimize shampoo rinse technologies with the objective to save water. In 2018, L’Oréal and Gjosa have announced the development of a shower head able to rinse shampoo with 1.5 litre of water (instead of 8 usually used). At CES in January 2021, L’Oréal and Gjosa have presented the L’Oréal Water Saver, a sustainable haircare system for the salon and at-home beauty routine.
“At L’Oréal we aim to offer the best sustainable beauty science and to be the champion of “Beauty Tech”. By combining Gjosa’s unique 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”, said Barbara Lavernos, Chief Research, Innovation & Technology Officer of L’Oréal.
“We are thrilled to enter this new stage of partnership with L’Oréal. Their leadership in beauty R&D, “Beauty Tech”, and their 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”.
For more information about BOLD Business Opportunities for L’Oréal Development: www.lorealboldventures.com
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 35 diverse and complementary brands, the Group generated sales amounting to 27.99 billion euros in 2020 and employs 85,400 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce. Research and innovation, and a dedicated research team of 4,000 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
“This press release does not constitute an offer of sale or solicitation of an offer to purchase L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website http://www.loreal-finance.com. This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements. ”