L’Oréal Invests in Canadian Professional Skin Care Group Functionalab

PARIS — L’Oréal has strengthened its foothold in the professional skin care market through a minority investment in Canadian company Functionalab Group, a developer and marketer of beauty brands with a network of 15 medical esthetic clinics in Canada. The French cosmetics giant made the strategic investment through its corporate venture capital fund BOLD Business Opportunities for L’Oréal Development. Functionalab Group’s current management team will continue to run the company from Montreal, the companies said in a joint statement on Thursday. Founded in 2009, Functionalab Group operates cosmetic dermatology clinics under its Dermapure and Project Skin MD brands, offering non-invasive treatments such as laser, injections, cryolipolysis, wrinkle and skin tightening treatments with ultrasound or radiofrequency. Its dermatologist-approved line of skincare, Jouviance, is distributed in around 3,500 retail points of sale in Canada, at CVS Pharmacies in the United States and in Asia. “With this partnership, L’Oréal reinforces its position in the professional skin care market where the group is already present with the brand SkinCeuticals, whose distribution will be extended to all Dermapure clinics,” the brand said. “Esthetic procedures are increasingly integrated into the consumer’s beauty routines,” noted Brigitte Liberman, president of the Active Cosmetics Division at L’Oréal. “With this investment, we will be able to

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/2XVqc2q