L’Oreal is probably the most digitally advanced beauty company working on several initiatives to bring technology to its beauty products. The company recently announced a strategic investment in “Founders Factory”, a multi sector digital accelerator and incubator, which will allow L’Oreal to deeply connect itself to a global ecosystem of world-class start-ups and entrepreneurs operating in the field of beauty. Based on this partnership, the company will become Founders Factory’s exclusive partner for investments in beauty tech start-ups word wide. L’Oreal has been ahead of competition in its digital innovations, with products such as an augmented reality based app called “Makeup Genius” and a skin sensor designed to monitor ultraviolet light exposure. We believe digital innovations will drive L’Oreal’s growth in future and, with its investment in Founders Factory, the company gets access to several beauty tech start-ups that can be instrumental in new digital initiatives of the company in future.
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