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L'Oral, Nestl Form Supplement Partnership


L'Oral, Nestl Form Supplement Partnership

PARIS--L'Oral S.A., based here, and Vevey, Switzerland-based Nestl S.A. announced in late June that the companies agreed to form a joint venture to be known as Laboratoires INNEOV to develop nutrition supplements for cosmetic purposes. The new company will be based in France, with both L'Oral and Nestl owning 50 percent of the joint venture. This business plan, at press time, was still subject to regulatory approval.

The supplements will be targeted for improving the quality of skin, hair and nails by supplying essential nutrients that have been shown through research to help these body regions. The products will be created using a process developed by Laboratoires INNEOV, which will combine the dermatological research from L'Oral (www.loreal.com) with the nutritional research from Nestl (www.nestle.com).

This partnership represents the first time cosmetic and food companies have partnered to enter this niche market segment.

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