L'Oréal Big Bang Beauty Tech Innovation Program Ignites Innovation Across North Asia

Trailblazing Initiative Expands to Hong Kong SAR and Taiwan Region, Cementing L'Oréal's Leadership in Regional Beauty Tech Open Innovation

SHANGHAI, June 21, 2024 /PRNewswire/ -- L'Oréal's groundbreaking Big Bang Beauty Tech Innovation Program (Big Bang) is now officially active across all of its North Asia markets with the momentous launch in Hong Kong SAR today, ushering in a new era of beauty innovation for consumers in the region and putting L'Oréal North Asia Zone's "Beauty Triangle" strategy in action. The strategy seeks to maximize synergies and accelerate collaboration, leveraging the unique and powerful North Asia ecosystem and the transversal synergy of China-Beauty, Korea-Beauty and Japan-Beauty.

First launched in Mainland China in 2020, Big Bang embraces open innovation to develop disruptive beauty solutions in partnership with startups and innovators. The program fosters the co-creation and co-development of innovative beauty products and experiences. Its expansion to Japan and Korea in 2023, followed by recent launches in Hong Kong SAR and Taiwan, underscores L'Oréal's commitment to spearheading cutting-edge beauty solutions throughout North Asia. The program's success has also inspired its launch in the L'Oréal South Asia Pacific, Middle East, and North Africa region just last month.

Each market tailors its Big Bang program with a unique theme, reflecting regional strengths and fostering local partnerships. L'Oréal Taiwan initiated its recruitment for Big Bang in March, focusing on a "Green Beauty Consumer Journey." Through collaboration with Taipei Computer Association (TCA), the program champions local sustainability innovations for a circular economy, eco-friendly design, and enhanced consumer engagement.

L'Oréal Hong Kong's recent launch introduced the city's first open innovation accelerator dedicated to the beauty industry. Partnering with the Hong Kong Science and Technology Parks Corporation (HKSTP) and Business France Hong Kong, the program prioritizes "Customer Experience Transformation." The goal is to craft immersive, multi-sensory experiences within brand spaces, elevating customer interactions and bringing brand stories to life in captivating new ways.

L'Oréal Japan and Korea both celebrated successful first years of the program, with participants gaining significant recognition and several already collaborating with L'Oréal. Building on this momentum, L'Oréal Japan will continue its strategic partnership with the Ministry of Economy, Trade and Industry to advance research and innovation (R&I) in cutting-edge skin and hair care technologies. Similarly, L'Oréal Korea, having formalized its collaboration with the Ministry of SMEs and Startup through an MOU at Viva Tech 2023, will deepen its focus on R&I while expanding the program with a dedicated digital track.

As the origin point of the Big Bang program, L'Oréal China continues its trajectory of impactful progress, covering comprehensive tracks including Future Science, Phygital Consumer, Operation 4.0, Gen AI and Sustainability. Fostering increasingly sophisticated projects and achieving tangible results. This is exemplified by the recent Viva Technology event, where CITIBIOTECH, a French startup specializing in 3D skin printing and winner of the Big Bang China French Channel, signed a strategic MOU with "Oriental Beauty Valley," a Chinese government-affiliated incubation organization. This partnership will pave the way for CITIBIOTECH's successful entry into the Chinese market. This milestone represents the first achievement stemming from a partnership agreement signed by L'Oréal, Business France, and the Oriental Beauty Valley during French President Emmanuel Macron's state visit to China in April 2023. 

Launched in 2021 with Business France as a strategic partner, the Big Bang China French Channel empowers cutting-edge French startups to expand their reach into the Chinese market. It has successfully recruited around 50 French startups to participate in the Big Bang China program by 2023. 

Since its inception, Big Bang has engaged over 2,000 companies, brought more than 50 business projects to fruition, and fuelled real-world innovation. A prime example is the nanochip technology developed by a previous Big Bang China participant, now featured in Lancôme's RENERGIE NANO-RESURFACER| 400 BOOSTER, debuting at VivaTech.

Big Bang provides startups and SMEs with an invaluable platform to scale their businesses, connect with government agencies, industry leaders, and investors, and showcase their innovations on a global stage at events like the China International Import Expo (CIIE) and Viva Technology. L'Oréal's investment in Shinehigh, winner of the 2022 Big Bang China program, exemplifies the company's dedication to nurturing and accelerating promising beauty tech ventures.

As Big Bang takes root across North Asia, it promises to usher in a new era of beauty innovation, one where technology, creativity and co-creation converge to deliver exceptional and personalized experiences for consumers. L'Oréal is proud to be at the forefront of this exciting evolution, solidifying its position as a beauty tech leader in the region and beyond.

About L'Oréal Groupe

For 115 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L'Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2023 the Group generated sales amounting to 41.18 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

About L'Oréal North Asia Zone

L'Oréal North Asia Zone was established in 2021 as L'Oréal Groupe regrouped the geographical scope of its zones to give greater coherence to consumer behaviour and to create synergy within the region. The North Asia Zone comprises of five geographically and culturally connected markets of Mainland China, Hong Kong SAR, Taiwan Region, Korea and Japan.

L'Oréal North Asia Zone is the second largest region within the Group, accounting for 25.9% of the Group's global sales in 2023. Situated in the most beauty intense region with more than one-third of the world's total beauty consumers, L'Oréal North Asia shapes the future of beauty with its innovation centres in Shanghai, Tokyo and Seoul, while investing in beauty tech transformation as one of the three beauty tech hubs globally. Here, our mission is to strategize, create and activate a powerful ecosystem around the North Asia Beauty Triangle as a competitive edge to unleash sustainable growth for all and inspire the world.

About L'Oréal Big Bang Beauty Tech Innovation Program

L'Oreal Big Bang Beauty Tech Innovation Program (Big Bang) is the first regional initiative focused on driving open innovation, inspiration and co-creation of innovative beauty products and experiences.  The program discovers, supports and nurtures promising start-ups and companies with innovative technology that can be scaled regionally and globally. 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

L'Oréal Big Bang Beauty Tech Innovation Program Ignites Innovation Across North Asia

L'Oréal Big Bang Beauty Tech Innovation Program Ignites Innovation Across North Asia

L'Oréal Big Bang Beauty Tech Innovation Program Ignites Innovation Across North Asia

L'Oréal Big Bang Beauty Tech Innovation Program Ignites Innovation Across North Asia

L'Oréal Big Bang Beauty Tech Innovation Program Ignites Innovation Across North Asia

DOHA, Qatar, June 28, 2024 /PRNewswire/ -- His Excellency the Prime Minister, Minister of Foreign Affairs, Sheikh Mohamed bin Abdulrahman bin Jassim Al Thani, launched today, Smaisma Project, the latest project by the Ministry of Municipality which will be managed by Qatari Diar Real Estate Investment Company. Upon completion, the project is expected to become a new urban landmark in the country, adding to the growing list of unique tourist destinations along Qatar's coast.

Speaking at the launch, His Excellency Abdullah bin Hamad bin Abdullah Al Attiyah, Minister of Municipality, stressed the importance of collaboration between partners in the public and private sector to continue and reinforce the growth trajectory that Qatar has been witnessing. "As we move steadily towards achieving Qatar National Vision 2030, we are building a future more prosperous and stable for future generations, economically, socially and environmentally. We look forward to enriching the tourism sector with more projects that meet the needs of this vital industry."

Eng. Ali bin Mohamed Al-Ali, CEO of Qatari Diar Real Estate Investment Company, expressed his pride in the trust awarded to Qatari Diar by the Ministry of Municipality to  manage the project, stating, "This latest project has been planned under the umbrella of the Ministry of Municipality and in line with the path of continued economic growth pursued by the State of Qatar. This project will set a new standard for tourism in the region and write a new and exciting chapter in Qatar's ongoing success story."

He continued, "The Qatari real estate market is valued at US$485 billion in 2024, and attracts the most foreign direct investments after the energy sector. This industry has witnessed notable growth in the past few years, driven by an increase in demand on residential and retail spaces, growth in visitor numbers, Qatar's hosting of mega events and development in the business and trade sector."

The Smaisma Project will span eight million square metres, and extend along seven kilometres of pristine beachfront on Qatar's eastern coast, in the area known as Smaisma Beach, providing novel tourist and entertainment experiences to the people of Qatar and its visitors.

The project provides promising investment opportunities, with 16 tourism zones available for development by the private sector, including resorts spread out over four zones each with a unique design and character. In addition, the project will feature a large-scale theme park, 18-hole golf course, residential villas, a yacht marina, as well as luxury restaurants and retailers.

Sustainability will be a fundamental pillar of the project, with reliance on smart construction systems, the use of local and recycled materials, as well as the latest in construction technology.

Considered an integrated tourism development, Smaisma Project will open up promising investment opportunities for real estate, development and tourism companies, encouraging foreign direct investments. 

Qatari Diar has 50 investment projects under development in 20 countries around the world, combining an investment value of around US$35 billion. The company seeks to provide investment opportunities for both local and foreign real estate developers in many of its projects around the world.

The company has also contributed significantly to the growth of Qatar's real estate sector though pioneering projects, including Lusail City, one of the largest smart and sustainable cities in Qatar.

Qatari Diar's vision is to consolidate its position as a real estate investment company with the highest levels of trust, credibility and efficiency, while harnessing its energies and capabilities to provide sustainable development of high quality, careful planning and the use of innovative methods in the world of real estate. 

Media Contact: Peiwen Zou; Peiwen.zou@ogilvy.com; 44103000

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Prime Minister, Minister of Foreign Affairs launches Smaisma Project

Prime Minister, Minister of Foreign Affairs launches Smaisma Project