L’Oreal has acquired a small stake in Functionlab, a Canadian group. This move has strengthened the brand’s position in the Skincare Market. L’Oreal first entered the market in the year 2005 by acquiring SkinCeuticals.
Functionalab is a Canadian medicine clinic’s leader and also owns Professional skincare brands like Project Skin MD and Dermapure. The clinics offer a wide range of skincare treatments like injections, lasers, and cryolipolysis.
“Aesthetic procedures are increasingly integrated into the consumer’s beauty routines,” said Brigitte Liberman, L’Oréal’s Cosmetics Division Active President. “With this investment, we will be able to better understand their expectations in regard to procedures, aesthetic gestures, and offer them tailor-made beauty routines. This is also a great opportunity for the SkinCeuticals brand to establish a strong partnership with a Canadian leader of aesthetic medicine clinics.”
This small investment made by L’Oreal in Functionalab was made by BOLD Business Opportunities. BOLD Business Opportunities is a working capital corporate fund created in 2018 December by L’Oreal. This fund was created to help the company in acquiring stakes in startups.
L’Oréal sales have increased by 11% and reached a €7.183 billion turnover. L’Oreal is expanding business on all fronts with green beauty, beauty tech, perfumes, and dermo-cosmetics. The brand plans to invest in all sectors across the cosmetics industry.