L’Oreal sets up its first investment company in China
L’Oreal Group recently announced the establishment of its first investment company in China – Shanghai Meicifang Investment Co., Ltd. The company is located in Oriental Beauty Valley, Fengxian District, Shanghai, and is mainly committed to investing in innovative beauty technology.
The head of L’Oreal’s external publicity told reporters a few days ago that this is not the first time L’Oreal has cooperated with Oriental Beauty Valley. Last year, L’Oreal and Oriental Beauty Valley held the second “L’Oreal BIG BANG Beauty Technology Creation Camp” and achieved fruitful results. Based on this successful cooperation, L’Oreal chose to set up the investment company established in China for the first time in Lingang South Science and Technology City in the core area of Oriental Beauty Valley. Oriental Beauty Valley will provide high-quality services for settled start-ups.
The person in charge of the publicity revealed that the two parties had announced the joint launch of the third “BIG BANG Beauty Technology Creation Camp” last month. The upgrade of the cooperation between L’Oreal and Oriental Beauty Valley will contribute to Shanghai’s construction of an international consumption center city and a technological innovation center.
“This investment further confirms the importance of the Chinese market in L’Oreal’s global layout, in which we have always maintained confidence.” The executive said, “This investment also represents L’Oreal’s strong commitment to Shanghai and China, and reflects our sincerity in working with our industry ecosystem partners to create together.”
L’Oreal’s move to expand investment in China has attracted the attention of the Ministry of Commerce. In response to questions from the media, Ministry of Commerce spokesperson Shu Jueting said that L’Oreal and other multinational companies have actively expanded their investment in China, which fully reflects the firm confidence of foreign investors in China’s economic development prospects, and fully reflects China’s expansion of opening up and business optimization. The remarkable achievements in the environment fully reflect the strong attractiveness of China’s large market, complete industrial facilities, perfect infrastructure and abundant human resources to foreign capital.