L’Oréal invests in China-based biotech company
This partnership will allow L’Oréal to solve the incompatibility and instability of raw materials.
L’Oréal, through Shanghai Meicifang Investment Co., Ltd., made a minority investment in China-based innovation-led biotech company Shinehigh Innovation for a long-term partnership to jointly develop new and sustainable beauty solutions.
In a statement, L’Oréal said the investment will allow the company to “unlock the full potential of raw materials” to overcome limitations such as incompatibility, instability and delivery to produce innovative skin, hair and scalp formulations.
“The fast-paced and unique ecosystem of startups in China is an incredibly important enabler of our future strategy of innovation at L’Oréal. This is why we are extremely excited to pursue this new investment and partnership with one of these highly innovative Chinese Biotech Startups: SHINEHIGH,” said Barbara Lavernos, Deputy CEO of L'Oréal Groupe in charge of Research, Innovation and Technology.
ALSO READ: L’Oréal completes Aesop acquisition
“This partnership will enable us, thanks to their world-leading application of supramolecular technology in the beauty industry, to bring breakthrough new performances to the beauty market. We are delighted to enter this exclusive beauty partnership with the pioneering team of SHINEHIGH,” Lavernos added.
Launched in 2017 by scientist Jiaheng Zhang, start-up Shinehigh Innovation specialises in cutting-edge supermolecular chemistry. It is equipped with a smart self-assembling technology that enables previously impossible ingredient combinations, crafting sustainable products.