L’Oréal invests in environmental tech startup Gjosa
Clichy, 23 March 2021 - L’Oréal announces a minority investment in Swiss environmental tech startup Gjosa, made through its corporate venture capital fund BOLD Business Opportunities for L’Oréal Development.
Based in Bienne, Switzerland, Gjosa develops unique water-saving solutions. L’Oréal and Gjosa have been working together since 2015 to optimize shampoo rinse technologies with the objective to save water. In 2018, L’Oréal and Gjosa have announced the development of a shower head able to rinse shampoo with 1.5 litre of water (instead of 8 usually used). At CES in January 2021, L’Oréal and Gjosa have presented the L’Oréal Water Saver, a sustainable haircare system for the salon and at-home beauty routine.
“At L’Oréal we aim to offer the best sustainable beauty science and to be the champion of “Beauty Tech”. By combining Gjosa’s unique water-tech innovations with L’Oréal’s knowledge of beauty rituals, data, tech, and personalization, we will invent together new augmented beauty experiences for our consumers while protecting the coveted and precious resource that is water”, said Barbara Lavernos, Chief Research, Innovation & Technology Officer of L’Oréal.
“We are thrilled to enter this new stage of partnership with L’Oréal. Their leadership in beauty R&D, “Beauty Tech”, and their iconic brands, will enhance our roadmap in water-technologies to reach consumers all around the world”, said Amin Abdulla and Luc Amgwerd, co-founders of Gjosa. “This strengthening of our partnership will enable us to create innovations that will have the best water-tech solutions for people in salons and at-home with the highest quality, and we are elated to work together to reach this goal”.
For more information about BOLD Business Opportunities for L’Oréal Development: www.lorealboldventures.com
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 29.87 billion euros in 2019 and employs 88,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 4,100 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
More information: https://mediaroom.loreal.com/
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