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Hair Channel News
L'Oreal, Nestle to make cosmetic nutritional supplements.
PARIS - French, Hair care and cosmetics group L'Oreal SA said Tuesday that it is setting up a joint venture with Swiss food group Nestle SA to develop the market for cosmetic nutritional supplements.
The new company, called Laboratoires Inneov, will be headquartered in France and will make products aimed at improving the quality of skin, hair and nails by supplying nutrients essential to their care, the company said.
L'Oreal said it's the first time that the cosmetics and food industries have joined forces to enter this fast-growing market.
The agreement is subject to regulatory approval.
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