PARIS — Beauty and technology keep on connecting.
French beauty heavyweight L’Oréal has signed an agreement to develop skin care devices with U.S. firm Light BioScience, which specializes in light-based technology, referred to as light-emitting diode photomodulation, for medical and aesthetic purposes.
The deal, announced Wednesday, also allows L’Oréal to market existing Light BioScience devices worldwide.
Financial terms of the agreement were not disclosed.
Virginia Beach, Va.-based Light BioScience’s flagship product is its patented GentleWaves LED Photomodulation, a noninvasive technology used by physicians and medical spas to stimulate skin by using low-intensity LEDs. This is said to slow down photo aging, thereby reducing wrinkles and rejuvenating skin.
“We have decided to pool our in-depth knowledge of skin and Light BioScience’s unique expertise in photomodulation to offer customers a new and complimentary approach to skin care,” said L’Oréal’s executive vice president of research and development, Jean-François Grollier, in a statement.
To that end, L’Oréal also has established a development unit for “instrumental cosmetics,” mechanical devices for use on skin, within its research and development division.
— Ellen Groves
Parfum d’Image Posts $6.1M in Earnings
PARIS — Parfum d’Image, the French private label beauty manufacturer, reported earnings of 4.6 million euros, or $6.1 million at average exchange, for its fiscal year ended Sept. 30. That came on the back of sales of 26 million euros, or $34.6 million, up 27.7 percent year-on-year.
Growth at the Levallois-Perret, France-based firm was driven by the acquisition of its main French competitor, Essens, in February plus new contracts for major retailers, including Carrefour, Galeries Lafayette, Superdrug and River Island.
The firm’s U.S. subsidiary, created last December, generated business of 1.1 million euros, or $1.5 million, through collections for retailers such as TJMaxx, Jean Coutu and Nine West. In November, Parfum d’Image Inc. acquired Latitudes International Fragrance, an American creator of private label fragrances.
Through synergies with Latitudes plus new beauty lines for Pimkie, Nocibé, Claire’s and Superdrug, Parfum d’Image targets sales of between 45 million euros and 50 million euros, or $66 million and $74 million at current exchange, and earnings between 8 million euros and 9.5 million euros, or $11.8 million and $13.9 million, in 2008.