L’Oréal and tech start-up incubator Founders Factory have chosen five fledgling start-ups to benefit from professional guidance and mentoring.
The five winners include InsitU, an online store that offers natural skincare SKUs; Preemadonna, which offers the app Nailbot, a tool for the creative application of nail SKUs; and Tailify, which helps brands create campaigns with social-media influencers, allowing the influencers to track, distribute and monetise content.
The remaining start-ups are Veleza, a company that uses apps to supply bespoke beauty advice in real time; and Cosmose, a firm that employs ‘sophisticated location technology' that retailers can use to target offline customers through online channels.
While these start-ups will benefit from Founders Factory’s team of digital-promotion experts, L’Oréal will offer them ‘its century-old beauty passion and expertise', as well as access to marketing professionals and R&D opportunities.
The cosmetic company’s chief digital officer, Lubomira Rochet, said, “We believe that open innovation will be key to identifying new disruptive ideas and co-develop new services to meet the aspirations of our consumers.
“We are excited to champion the next generation of beauty entrepreneurs through our partnership with Founders Factory and accelerate their development by bringing them our expertise of the beauty industry.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up for ESM: The European Supermarket Magazine.
