Despite a strict lockdown in Shanghai, the beauty giant’s Bold unit is on the lookout for local entrepreneurs working on innovative beauty and cosmetic technologies and products.

France-based cosmetics producer L’Oréal has formed an investment company in Shanghai, China, Xinhua reported yesterday, in the midst of the city’s strict covid-associated lockdown.

The company, which will invest in local beauty technology developers, represents L’Oréal’s first investment unit in China. Business Opportunities for L’Oréal Development (Bold), a corporate venturing arm formed in 2018, will help run the new vehicle.

Unlike much of the world, China is maintaining a strict zero-covid policy and Shanghai has been under more than…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.