L’Oréal has announced a new investment in a venture led by Geno, a biotechnology company, to create sustainable alternatives to key ingredients in beauty products. The French cosmetics giant will be a founding member of the venture alongside Unilever and Kao.
The investment, made through L’Oréal’s corporate venture fund, BOLD, aims to support the creation of new, sustainable ingredients derived from living organisms. Through Geno’s biotechnology expertise, L’Oréal plans to replace traditional ingredients with bio-based alternatives, such as those made from plant-based sugars.
The new ingredients will be used across various L’Oréal products, helping the business move towards its goal of 100% eco-designed formulas and ingredients that are 95%-derived from renewable or abundant sources. The investment aims to reduce the environmental footprint of the beauty industry.
“At L’Oréal, we believe that science has the power to create a better world, and we are committed to using our expertise to drive positive change in the beauty industry. That’s why we have made Green Sciences the cornerstone of our research,” said Barbara Lavernos,Deputy Chief Executive Officer in charge of Research, Innovation and Technology, at L’Oréal.
“We are thrilled to partner with Geno, whose unique approach to developing alternative, biotechnology-based ingredients aligns perfectly with our vision of a more sustainable future. By working together with other beauty players, we can leverage our collective expertise and resources wherever our combined efforts can have a meaningful impact.”
Christophe Schilling, Chief Executive Officer at Geno, added: “Welcoming L’Oréal to this incredible team of global brand heavyweights signifies just how important and urgent the need is for traceable, resilient and sustainable materials, at scale. L’Oréal’s commitment further accelerates Geno’s goal to reduce global carbon emissions by over 100 million tons in the upcoming years by targeting massive scale material markets.”
