L'Oréal invests in Fireside Ventures
today Sep 6, 2019
French beauty business L'Oréal has invested in Indian venture capital fund, Fireside Ventures, and aims to build brands in India’s beauty industry over the next few years.
L'Oréal has invested an undisclosed sum into Fireside Ventures’ Fireside Fund II, the Press Trust of India reported. L'Oréal made the investment through its corporate venture capital fund 'Bold business opportunities for L'Oréal development', which it launched in December 2018.
"India is an important market for us and a great place for innovation," L'Oréal India’s managing director Amit Jain told the Press Trust of India. Jain also said that the investment will allow L'Oréal to be part of the creation process of India’s future beauty trends.
Fireside Ventures was launched in 2017 and works with a large number of Indian consumer brands, including in the fashion and beauty sectors.
"Together with L'Oréal we intend to scout and co-create a new generation of innovative beauty products, built in India for global consumption and in faster timeframes," said Fireside managing partner Kanwaljit Singh.
Fireside Ventures currently works with several brands in India including Pipa + Bella, Bog Orchid, The Ayurveda Experience, Bombay Shaving Company, and MamaEarth.
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