Cosmetics giant L’Oréal has announced its corporate venture capital fund, Business Opportunities for L’Oréal Development (BOLD), has made a minority investment in Japanese beauty start-up Sparty.
The investment in the Tokyo-based company marks L’Oréal’s first venture capital in Japan.
“Japan is one of the most sophisticated and influential beauty markets,” said Jean-Pierre Charriton, chief executive officer of L’Oréal Japan, in a release.
Charriton continued: “In Japan, personalised consumer experience is highly valued, and we are seeing new trends and innovations when it comes to personalisation, especially in beauty. We are thrilled to be partnering with Sparty, a pioneer in personalised beauty as well as a game changer within Japan’s growing D2C market.”
Sparty itself is focused on the Japanese demand for personalised beauty and customer experience, offering brands such as Medulla in hair care and Hotaru in skincare.
The company’s founder and CEO, Yosuke Miyama, said: “With Sparty’s proven track record in personalisation and L’Oréal’s leadership in the worldwide beauty market, we are confident that we will be able to embark on the next chapter of our growth journey and scale our business even further, both in Japan and overseas, to the fullest potential.”