L’Oréal/Nestle Cosmetic Supplements To Launch In 2003
This article was originally published in The Rose Sheet
Executive Summary
Beauty-oriented nutritional supplements developed through a joint venture between L'Oréal and Nestle are scheduled to debut in 2003. An agreement on the formation of the business, to be called Laboratoires Inneov, was announced by the French beauty conglomerate and Swiss food group June 25
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Beauty-oriented nutritional supplements developed through a joint venture between L'Oréal and Nestle are scheduled to debut in 2003. An agreement on the formation of the business, to be called Laboratoires Inneov, was announced by the French beauty conglomerate and Swiss food group June 25. Headquartered in France, the operation will "develop the market for cosmetic nutritional supplements on a global basis," according to the release. Products will aim to "improve the quality of skin, hair and nails by supplying nutrients essential to their physiology." The effort will combine Nestle's research in nutrition with L'Oréal's scientific expertise in dermatology. The partnership represents "the first time the cosmetic and food industries have joined together to enter this fast-growing market," the companies said. The joint venture, which will be 50% owned by each company, is subject to regulatory approval. Neither firm currently markets nutritional supplements aimed at improving the appearance. Nestle attempted to break into the U.S. supplement market in early 2000 with a probiotic powder for digestive and immune health called LC1. However, the product was discontinued in 2001 due to lower than expected sales. L'Oréal estimates the European market for cosmetics supplements is growing at 15%-20% annually. In Europe, some of the companies currently marketing such products include Arkopharma and Oenobiol of France, Germany's Roche Nicholas, Novartis and the Italian firm Saint Anjelica. Laboratoires Inneov products will be sold on a global basis, including the U.S. Roll-out plans are still in the works, L'Oréal said. Several major U.S. supplement brands such as GNC , Sundown , Twinlab and Natrol already include individual products for enhancing hair, skin and nails. The supplements generally contain combinations of vitamins, minerals and other nutrients, including MSM and biotin. Among beauty product marketers, Avon recently added a supplement for hair and nails to its Wellness collection of dietary supplements and natural personal care products. The Wellness supplements are developed for Avon by Roche Consumer Health. |