TAGS: Sustainability / Natural Cosmetics Sun Care Hair Care
L’Oréal announces an agreement to make a minority investment in SHINEHIGH INNOVATION, an innovation-led biotech company in China, to establish a long-term partnership for the co-development of novel and sustainable beauty solutions.
This is L’Oréal’s first open innovation investment in China through Shanghai Meicifang Investment Co., Ltd (Meicifang), with the support from BOLD (Business Opportunities for L’Oréal Development), L'Oréal Groupe’s strategic innovation venture capital fund company.
Unlock the Full Potential of Raw Materials
It is also the first investment from L’Oréal’s well-known BIG BANG Beauty Tech Innovation Challenge initiated four years ago in China, proving the successful achievement in China’s open innovation ecosystem.
SHINEHIGH INNOVATION is a Chinese start-up created in 2017 by one of the leading scientists prof. Jiaheng Zhang specializes in cutting-edge supramolecular chemistry. Its breakthrough smart self-assembling technology allows previously impossible ingredient combinations, resulting in end-products with greater efficacy and sustainability. The partnership will enable L'Oréal to unlock the full potential of raw materials, overcoming known limitations such as incompatibility, instability, and delivery, to develop innovative skin, hair, and scalp formulations with a wider range of benefits.
Barbara LAVERNOS, deputy CEO of L'Oréal Groupe in charge of Research, Innovation and Technology, said, “
The fast paced and unique ecosystem of startups in China is an incredibly important enabler of our future strategy of innovation at L’Oréal. This is why we are extremely excited to pursue this new investment and partnership with one of these highly innovative Chinese Biotech Startups: SHINEHIGH. This partnership which will enable us, thanks to their world-leading application of supramolecular technology in the beauty industry, to bring breakthrough new performances to the beauty market. We are delighted to enter this exclusive beauty partnership with the pioneering team of SHINEHIGH.”
Fabrice MEGARBANE, president of L'Oréal North Asia Zone and CEO of L'Oréal China, said,
“We have long-term confidence in the Chinese market. After 25 years of development, China has become the Groupe’s inspiration cradle of future innovation. Under our firm belief in co-creation, we initiated BIG BANG 4 years ago and founded L'Oréal China’s investment company Meicifang last year. I am so thrilled to see all our efforts have harvested fruits today: investing in SHINEHIGH INNOVATION, our 2022 BIG BANG winner. Now BIG BANG has been extended to the North Asia Zone, and we expect to invent the future of beauty with more partners for North Asia and the global beauty market.”
Jiaheng ZHANG, the founder and CEO of SHINEHIGH INNOVATION, said,
“I am delighted to cooperate with L’Oréal Groupe, a global leader in the beauty industry. We have jointly conducted research on the supramolecular development of multiple active raw materials in the fields of skincare, makeup, hair care, and hair coloration. This is of great significance for the industrialization and landing of cutting-edge supramolecular technology. We look forward to exploring more possibilities in raw material research and development, application, and global market development together!”
Source: L’Oréal
