L’ORÉAL INVESTS IN MICRO-PRINTING LEADER, PRINKER KOREA INC.
Exclusive Beauty Partnership Underlines Company’s Commitment to Beauty Tech to enable
Self-Expression and Personalized Beauty
Clichy, 9 January 2023 - L’Oréal announces a minority investment in micro-printing startup, Prinker Korea Inc., made through its corporate venture fund BOLD Business Opportunities for L’Oreal Development. Their temporary tattoo products have won multiple CES Best of Innovation awards and the prestigious global iF Design award.
Established in 2015, Prinker Korea Inc. is the inventor and manufacturer of the world's first digital temporary tattoo device with a goal to inspire consumers and offer new tools for self-expression. L’Oreal and Prinker have been working together for several years to develop award-winning and newly unveiled at the Consumer Electronics Show, L’Oreal Brow Magic. It is the first handheld, electronic brow make-up applicator to provide consumers with their most precise brow shape. Using AR technology and patented AI-algorithms, the device scans the user’s face and makes recommendations on the best brow shape which is then printed in seconds automatically. Easy to remove, this technology offers a perfect make up the entire day.
“At L’Oreal, our researchers are partnering with high end technology start-ups to create the future of beauty. Together, by combining our expertises, we develop unmet personalized consumer experiences,” says Barbara Lavernos, Deputy CEO in charge of Research, Innovation and Technology at L'Oréal. “Through this strategic investment, we can fulfill our deep commitment to bringing breakthrough beauty technologies that truly empower boundless personalisation and self-expression into the hands of every person.”
“We are thrilled to enter this new phase of partnership with L’Oréal, who aligns with our mission of empowering consumers with versatile and customizable tech to express themselves,” says Luke Yun, Co-Founder & CEO, Prinker Korea Inc. “Their century-long heritage of beauty, research and development, and sharp focus on beauty technology will allow us to reach more consumers than ever before. Their investment will enable us to create innovations that will have the best solutions for people worldwide, and we are elated to work together to reach this goal”.
For more information about BOLD Business Opportunities for L’Oréal Development: www.lorealboldventures.com
For over 110 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.
More information on https://www.loreal.com/en/mediaroom
"This press release does not constitute an offer of sale or solicitation of an offer to purchase L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website www.loreal-finance.com.
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