THE WHAT? L’Oréal has invested in Singaporean venture capital firm, DSG Consumer Partners, according to a report published by Mint.
THE DETAILS The investment was made via the French beauty giant’s BOLD (Business Opportunities for L’Oréal Development) corporate venture capital fund.
“We are excited to welcome L’Oréal as an investor in our ecosystem, and partner in our mission to invigorate the region’s industry disruptors and most promising start-ups. Through this fund, we aim to catalyze emerging market consumer innovation by working with entrepreneurs who are addressing new consumer aspirations and needs,” said Deepak Shahdadpuri, Managing Director (Singapore) of DSG Consumer Partners, per Mint.
THE WHY? Through its investment, the French beauty giant will gain access to early-stage entrepreneurs in the Southeast Asian and Indian beauty sector. Vismay Sharma, President of L’Oréal South Asia Pacific, Middle East and North Africa (SAPMENA), told Mint, “The Southeast Asia and India region has many of the fastest growing, most populous and young demographic markets of the world. The future of consumer brands will largely be shaped in these markets, so it’s important to build a strong connection to its dynamic ecosystem of disruptors and invest in promising consumer brand start-ups.”
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