Posts tagged with "L’Oreal"

Make-up that is ‘self’-centered is L’Oreal’s next big bet

January 9, 2020

France’s fashion sense is timeless, simple, and elegant—but it is not entirely unobtainable. In fact, L’Oréal—the Paris-based beauty group— is betting big on its next product to help women everywhere transform themselves in a style that is uniquely and solely their own.

It’s a tiny device that’s only 6.5 inches tall and weighs just over one pound, but will enable makeup mavens to create personalized cosmetics at home, Fortune Magazine reports.

At the Consumer Electronics Show in Las Vegas this month, the French cosmetics and personal products giant will debut a new hardware device called Perso, which whips up compressed beauty formulas from physical cartridges to create on-the-spot skincare, lipstick, and foundations.

Think of it like a mini makeup Keurig, Fortune suggests—but, instead of getting a specialized espresso drink, you’ll be creating a unique pink lipstick or skin cream.

It’s a long-term relationship with the consumer,” Guive Balooch, head of L’Oréal’s Technology Incubator, told the magazine in an interview on the show floor.

For skincare, Perso’s app will take into account the local air quality, temperature, humidity, and other factors that fluctuate and affect the skin. It then creates a recipe that even adjusts depending on if you are applying the skincare formula in the morning or the evening.

Perso’s hardware features a proprietary motor system located at the top of the device, which moves and compresses the formula from the cartridges at the base of the machine in an upward motion to the dispensing tray above for a clean application.

The lipstick option is more focused on playful trends. Perso has a base of three different colors: light pink, red, and purple, and to create a shade, users can take a picture of themselves and the app will then recommend a shade based on hair color, clothing and skin tone. Users can also create shades based on what’s trending on social media at the time.

Perso is essentially all about tech-enabled personalization, a trend making waves in a variety of consumer product categories, including apparel, food and beverage, and footwear.

“Everyone understand the value of personalization and no one owns that more than beauty because it is in their foundation,” Genevieve Aronson, VP of Communications at Nielsen told Fortune Magazine.

Embracing personalization is a way for beauty makers like L’Oréal to boost the industry’s sales. In-store beauty sales total approximately $37 billion in the U.S. market, but annual growth is reported at just 1% over the past two years, according to Nielsen. And yet personalized products are 1.7 times more likely to drive sales, says Aronson. So placing a greater emphasis on personalization can potentially help jolt beauty sales.

“The only way to achieve beauty for all is through technology,” says Balooch. “You can go to a [makeup] counter and find 40 to 50 shades of foundation. But the reality is, there are far more people with different shades than those options.”

In fact, testing for Perso hit a bit of a snag during the development process when Balooch and his team realized that the application wasn’t quite nailing skincare recommendations for individuals with darker skin tones. “It was a lot harder than we had anticipated,” Balooch says, adding that for foundation, 50% of women say they can’t find the exact shade they’d like at the store.

So L’Oréal spent an additional six months testing the product with 400 women, varying from very light to very dark skin. “We realized we had to measure peoples’ skintones, put the product on skin, and then achieve the match,” says Balooch.

Still, some key details need to be ironed out for Perso. Balooch says L’Oréal hasn’t yet solidified distribution for the Perso system and no-pricing structure has been set for the device or the cartridges that would need to be re-ordered over time. The goal is to launch the technology in 2021.

Research contact: @FortuneMagazine

Will this food trigger allergies? Label Insight discloses the ingredients

March 26, 2019

Label Insight, a Chicago-based firm that “decodes” and “interprets” food label data for retailers—and, in turn, for U.S. shoppers who want to know more about the ingredients they will be consuming—has raised $21 million in new funding, The Chicago Tribune reports.

The series C round brings the company’s total funding to roughly $35 million; the company closed its last round in January 2016, The Chicago Tribune notes. Delta-v Capital led the round alongside River Cities Capital Funds. Delta-v managing partner David Schaller joins Label Insight’s board along with the deal.

The company—which was founded by brothers Dagan and Anton Zavier in 2008 in order to increase transparency in food, pet, and personal care marketing and enable customers to make more-informed purchasing decisions—claims to offer “more than 22,000 high-order attributes per product.”

Thus, a shopper with an allergy can ask a store rep and quickly figure out what products to avoid. Retailers get a tool to help customers understand what they’re buying, while companies can offer more information to sway ingredient-conscious shoppers.

The company says it works with top brands like Unilever, Conagra, L’Oreal, and Ocean Spray, and its database has information on more than 400,000 products. It provides that information to retailers like AlbertsonsMeijer, and Raley’s.

Earlier this year, Label Insight announced it was expanding into products like pet food, over-the-counter medicine, vitamins and supplements, and personal care items. CEO Paul Schaut said Label Insight plans on building its database to one million items with the new funding.

The series C round brings the company’s total funding to roughly $35 million; the company closed its last round in January 2016, The Chicago Tribune notes. Delta-v Capital led the round alongside River Cities Capital Funds. Delta-v managing partner David Schaller joins Label Insight’s board along with the deal.

“The consumer’s mandate for more information doesn’t stop with what they eat—it includes what they put on their bodies, personal care; it includes what they feed their pets, pet food; or their babies, baby food,” Schaut told the news outlet. “It’s not going to stop at what they buy at the grocery store. You get on a plane, you go to a restaurant, you’re going to want to know more about what you’re eating. Our business is just to support the industry any place the consumer is asking for more information.”

Schaut said Label Insight currently employs about 115 people, split evenly between its Chicago and St. Louis offices. With the funding, it plans to bring that number to 170 within the next 12 months. The hires will be focused on the company’s data science team,s as well as its sales and marketing teams, he said.

Research contact: bmeyerson@chicagotribune.com