L'Oréal and Verily announce first-of-its-kind strategic partnership to advance precision skin healthSource: OMX
L’ORÉAL AND VERILY ANNOUNCE FIRST-OF-ITS-KIND STRATEGIC PARTNERSHIP
TO ADVANCE PRECISION SKIN HEALTH
Clichy, January 20, 2022 - L'Oréal, the world leader in beauty, and Verily, an Alphabet precision health company, announced today a strategic partnership, exclusive in beauty, to advance skin health. The first-of-its-kind partnership in the beauty industry is expected to entail two programs aimed to better understand and characterize skin and hair aging mechanisms and to inform L’Oréal’s precision beauty tech strategy and product development.
The first is a strategic research collaboration to establish a longitudinal biological, clinical, environmental view of skin health. It combines L’Oréal’s deep scientific knowledge of skin and Verily’s comprehensive clinical science capabilities, to decode and discover the links between exposome, skin aging, and deep biology of the skin.
The second is a partnership with Verily’s R&D Team and L’Oréal’s Active Cosmetics Division, to explore the development of new technologies and tele-diagnosis solutions such as sensors, and AI algorithms for dermatology and skincare, that can form the basis for new services.
“We are excited to partner with Verily, a world leader in precision health tech. L’Oréal’s century-long commitment to pioneering innovation has come from our strong belief in the intersection between science, formulations, and our unique Advanced Research capabilities to decode revolutionary scientific discoveries that will create the future of beauty” says Nicolas Hieronimus, Chief Executive Officer, L’Oréal Group. “Thanks to this partnership, we want to lead a new era of skin health, through tech and science, to enable every person around the world the most inclusive, personalized, powerful and precise programs for their skin at each stage of their lives.”
“Verily and L’Oréal believe in the transformative power of technology to enable precision beauty and health” says Stephen Gillett, President and COO, Verily. “We are pleased to partner with a world leader in cosmetic science to better understand and promote skin health.”
"We recognize skin health as a critical need for overall wellness as it not only impacts us physically in our daily lives, but also holistically. Our collective approach has the potential to identify the right intervention based on data, powered by Verily's technology and clinical science abilities combined with L’Oréal’s beauty industry leading intelligence and dermatology network" says Brian Otis, Fellow, Co-Founder, Verily.
“The new partnership between L’Oréal and Verily promises innovation for dermatologists and consumers. We look forward to learning more about the skin as a result of their strategic research collaboration and we hope that the new algorithms and tools will improve consumer access to personalized information so people can care for their skin more effectively” says Dr Amanda Oakley, President, International Society of Teledermatology.
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 35 diverse and complementary brands, the Group generated sales amounting to 27.99 billion euros in 2020 and employs 85,400 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 4,000 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
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.
This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.”
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