The French personal care and beauty conglomerate L’Oréal has strengthened its foothold in professional skincare market by investing in the Canadian group Functionalab. Earlier in 2005, the beauty giant entered the marketplace with the brand SkinCeuticals, whose distribution will be extended to all Dermapure clinics.
Commenting on the investment, Brigitte Liberman, L’Oréal President Active Cosmetics Division said in an official statement that aesthetic procedures were increasingly integrated into the consumer’s beauty routines.
“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,” Liberman added.
Speaking of the same Francis S. Maheu, Co-Founder and CEO of Functionalab Group, claimed, “This strategic partnership with L’Oréal not only validates our leadership position in Canada, but also the unique positioning and attractiveness of our concepts and brands in the field of aesthetic medicine clinics.”
Furthermore, Maheu stated that Funtionalab was proud to be able to count on the support of L’Oréal to continue executing and accelerating their growth plan including a geographic expansion.
This minority stake investment in Functionalab was made through L’Oréal’s corporate venture capital fund BOLD Business Opportunities for L’Oréal Development. Functionalab offers a variety of non-invasive rejuvenating treatments including laser, injections, wrinkle and skin tightening treatments among others with 15 medical clinics in Canada.
This story was first published on The Indian Wire.