L’Oréal and Nestlé to End Innéov Joint Venture in 2015
28 Nov 2014 --- L’Oréal and Nestlé have announced the project to end the activity of their joint venture Innéov during the course of the first quarter 2015. Created in 2002, Innéov offers cosmetic nutritional supplements sold in pharmacies. The brand has not met the development expected by both partners. In 2013, Innéov achieved a turnover of 52 million euros.
Both partners will keep the benefits of the research and intellectual property as well as the developments achieved which could be potentially used in their respective fields.
L’Oréal and Nestlé are committed to review all employment opportunities within their Groups for all employees of Innéov. This project is being submitted for information/consultation to employee representatives according to the regulations of each country concerned.
L’Oréal has devoted itself to beauty for over 105 years. With its unique portfolio of 28 international, diverse and complementary brands, the Group generated sales amounting to 23 billion euros in 2013 and employs 77,500 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail and branded retail.
