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L’Oreal to pump 3.5k cr in 1st AI-powered global tech hub

contact@dailyupdatesindia.com3 months ago02 mins

HYDERABAD: Beauty and personal care giant L’Oreal will set up its first AI-powered global beauty tech innovation hub in Hyderabad. The company will invest 350 million euros (approx Rs 3,500 crore) by 2030. The hub, which will be a first-of-its-kind globally, will focus on developing the next generation of AI-powered beauty innovations.L’Oreal plans to leverage…

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Beauty business: Kering sells beauty division to L’Oreal; $4.6 billion deal sealed

contact@dailyupdatesindia.com7 months ago02 mins

French luxury group Kering has agreed to sell its beauty division, including the high-end perfume brand Creed, to L’Oreal for $4.6 billion. The move marks a major step for Kering as it looks to tackle its growing debt.Under the agreement announced on Sunday, L’Oreal will also secure 50-year exclusive licences to make and sell beauty…

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