PARIS – L’Oréal has agreed to take a minority stake in Shinehigh Innovation, a Chinese innovation-led biotech company specializing in supramolecular chemistry.

This marks the primary open innovation investment the wonder giant has made through Shanghai Meicifang Investment Co. Ltd., L’Oréal China’s investment company, with support from Business Opportunities for L’Oréal Development, or BOLD, which is the group’s strategic innovation enterprise capital fund.

It’s also the primary investment from L’Oréal’s Big Bang Tech Innovation Challenge, which the corporate launched 4 years ago in China.

Scientist Jiaheng Zhang founded Shinehigh Innovation in China in 2017.

“Its breakthrough smart self-assembling technology allows previously inconceivable ingredient mixtures, leading to end-products with greater efficacy and sustainability,” L’Oréal said in a press release released Friday.

“The partnership will enable L’Oréal to unlock the total potential of raw material, overcoming known limitations, reminiscent of incompatability and delivery, to develop modern skin, hair and scalp formulations with a wider range of advantages,” the corporate said.

“The paced and unique ecosystem of startups in China is an incredibly necessary enabler for our future strategy of innovation at L’Oréal,” said Barbara Lavernos, deputy chief executive officer of L’Oréal in control of research, innovation and technology. “This partnership will enable us, due to their world-leading application of supramolecular technology in the wonder industry, to bring breakthrough latest performances to the wonder market.”

L’Oréal and Shinehigh Innovation have jointly carried out research on the supramolecular development of multiple lively raw materials within the fields of skincare, makeup, hair care and hair coloration.

“We now have longterm confidence within the Chinese market. After 25 years’ development, China has grow to be the group’s inspiration cradle of future innovation,” said Fabrice Megarbane, president of L’Oréal North Asia Zone and CEO of L’Oréal China.

“Under our firm belief in co-creation, we initiated Big Bang 4 years ago, and founded L’Oréal China’s investment company Meicifang last yr,” he continued. “I’m so thrilled to see all our efforts have harvested fruits today: investing in Shinehigh Innovation, our 2022 Big Bang winner. Now Big Bang has been prolonged to the North Asia Zone, and we expect to invent the longer term of beauty with more partners in North Asia and the worldwide beauty market.”