L’Oréal has taken a minority stake in South Korean-based Prinker Korea Inc., the inventor and manufacturer of the world's first digital temporary tattoo device.
In a statement, L’Oréal said that its investment in Prinker Korea Inc. was made through its corporate venture fund BOLD Business Opportunities for L’Oreal Development, following the success of the Korean brand’s temporary tattoo products at CES. At the show, it won multiple CES Best of Innovation awards and the prestigious global iF Design award.
Barbara Lavernos, deputy chief executive in charge of research, innovation and technology at L'Oréal, said: “At L’Oreal, our researchers are partnering with high-end technology start-ups to create the future of beauty. Together, by combining our expertise, we develop unmet personalised consumer experiences.
“Through this strategic investment, we can fulfil our deep commitment to bringing breakthrough beauty technologies that truly empower boundless personalisation and self-expression into the hands of every person.”
Prinker Korea launched in 2015 to inspire consumers with new tools for self-expression and has worked with L'Oréal for several years to develop the L’Oréal Brow Magic unveiled at CES, as the first handheld, electronic brow make-up applicator to provide a custom brow shape.
Luke Yun, co-founder and chief executive at Prinker Korea Inc., added: “We are thrilled to enter this new phase of partnership with L’Oréal, who aligns with our mission of empowering consumers with versatile and customisable tech to express themselves.
“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.”