PARIS – L’Oréal keeps widening its digital reach. The French beauty giant said Friday it has inked a strategic partnership with Station F, considered the largest startup campus in the world, created and backed by Xavier Niel.
Specifically, the French beauty giant has become the partner for the development of early stage digital beauty startups around the globe.
Inside Station F, based in Paris, L’Oréal will also run its own beauty accelerator. “Through the accelerator, L’Oréal will finance 62 workstations on the Station F campus and support selected startups providing expertise in beauty and marketing, as well as networking and mentorship with the group’s key stakeholders and dedicated digital teams,” the company said in a statement on Friday.
“Digital is transforming beauty, and we see a shift toward augmenting the consumer experience through services such as color try-on, diagnostics, online breauty consultations, live broadcasting and personalization,” said Lubomira Rochet, chief digital officer of L’Oréal.
“Our partnership with Station F is strategic to help us connect, collaborate and support the rising generation of digital beauty entrepreneurs. We are excited to provide the resident beauty startups with access, networking and mentorship across the group’s brands, labs and business teams to accelerate their development,” she added.
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Jean-Paul Agon, L’Oréal’s chairman and chief executive officer, said: “As a French company with a global reach, L’Oréal is proud to support Station F’s ambition to make France a global center of digital innovation. As a beauty industry leader, we are thrilled to empower the next generation of beauty-enthusiastic entrepreneurs.”
Roxanne Varza, director of Station F, said L’Oréal and the startup campus share “values of ambition and diversity.”
L’Oréal has made investment in other digital activities – such as venture capital firm Partech Ventures and Founders Factory, an accelerator and incubator – as part of its open innovation strategy.