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In January, L’Oréal will unveil a state-of-the-art innovation center in Paris, inviting startups to pitch their best ideas on everything from artificial intelligence to augmented reality for the chance to work with the conglomerate. Meanwhile, L’Oréal has hired nearly 1,700 digitally focused employees over the past five years and increased its digital advertising budget to make up 35 percent of its media spend, up from 30 percent in 2016.
“We’re seeing a strong consumer appetite for digital experiences like virtual makeup, diagnostics, online beauty consultations, live broadcasting and personalization,” said Lubomira Rochet, L’Oréal’s chief digital officer.