We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Oct 5, 20249:33am

L’Oréal buys stake in Canadian cosmetics company Functionalab

The French perfume and cosmetics giant has invested in the Canadian skincare group Functionalab, owner of Dermapure, Project Skin MD, and Jouviance.

Nov 29, 2019 — 6:29pm
mds
Save

L’Oréal buys stake in Canadian cosmetics company Functionalab

 

 

L’Oréal continues increasing its portfolio. The French company has acquired a minority stake in the developer and manufacturer of professional and cosmetic brands Functionlab.

 

The French giant made the strategic investment through its venture capital fund Bold Business Opportunities for L’Oréal Development. “With this partnership, L’Oréal strengthens its position in the professional skin care market, where the group is already present with the SkinCeuticals brand,” said the French company in a press release.

 

Founded in Canada in 2009, Functionlab Group operates within dermatological cosmetics sector under its brands Dermapure, Project Skin MD, and Jouviance, which is distributed in about 3,500 points of sale around Canada and in the United States, through CVS Pharmacies chain. The current management team of Functionalab Group will continue to run the company from Montreal, the companies said in a statement.

 

L’Oreál, meanwhile, ended its fiscal year with sales of 26.9 billion euros, 7.1% more than in the previous year. The benefit of the French group stood at 3.9 billion euros, up 8.8% from the previous year.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...