L’Oréal invests in Canadian cosmetics company Functionalab
December 4, 2019
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L’Oréal [TCO] continues increasing its portfolio of beauty products and solutions as the company has made investment in Functionlab, a developer and manufacturer of professional and cosmetic brands.
The strategic investment was made through its venture capital fund Bold Business Opportunities for L’Oréal Development.
Functionlab was founded in Canada in 2009, and operates several brands including Dermapure, Project Skin MD, and Jouviance, which is distributed in about 3,500 points of sale around Canada and in the United States, through CVS Pharmacies chain. The current management team of Functionalab Group will continue to run the company from Montreal, the companies said in a statement.
