L’Oreal invests in biotech for sustainable beauty
This is to include more plant-based ingredients in their beauty products.
L’Oreal has invested in biotechnology venture, Geno, to create alternative plant-based key ingredients for sustainable beauty.
Through its corporate venture fund BOLD, L’Oreal made the investment to replace its traditional ingredients that will be applied across various products.
“At L'Oréal, we believe that science has the power to create a better world, and we are committed to using our expertise to drive positive change in the beauty industry. That's why we have made Green Sciences the cornerstone of our research,” Barbara Lavernos, Deputy Chief Executive Officer in charge of Research, Innovation and Technology, at L’Oréal, said.
“We are thrilled to partner with Geno, whose unique approach to developing alternative, biotechnology-based ingredients aligns perfectly with our vision of a more sustainable future. By working together with other beauty players, we can leverage our collective expertise and resources wherever our combined efforts can have a meaningful impact.”
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This is also in line with the company’s goal to create 100% eco-designed formulas and ingredients that are 95%-derived from renewable or abundant sources.