THE WHAT? L’Oréal and Alibaba Group have signed a three-year partnership to promote a circular economy in China’s beauty industry.
THE DETAILS CEOs of both firms signed a memorandum of understanding which will see the two firms work together to develop new products and create measurable circular economy solutions.
THE WHY? Alibaba Chairman and CEO, Daniel Zhang commented, “Sustainable development has become a consensus and commitment across national borders and it is also the common pursuit of every company with a sense of social responsibility.”
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