French beauty conglomerate, L’Oreal, has completed a minority investment in Tokyo-based beauty startup Sparty through its corporate venture capital fund BOLD (Business Opportunities for L’Oreal Development).
The deal marked L’Oreal’s first venture capital investment in Japan. The value of the investment has not yet been disclosed. Through D2C business model, Sparty provides personalised products and consumer services from brands, including Medulla in haircare and Hotaru in skincare.
“Japan is one of the most sophisticated and influential beauty markets,” said Jean-Pierre Charriton, CEO of L’Oreal Japan. “In Japan, personalised consumer experience is highly valued, and we are seeing new trends and innovations when it comes to personalisation, especially in beauty. ”
Founder and CEO of Sparty, Yosuke Miyama, said the company is confident that through the partnership, it will be able to scale the business even further, both in Japan and overseas, to the fullest potential.