L’Oreal invests in early-stage investment fund Fireside Fund II

L'Oréal on Thursday announced investing an undisclosed sum in Fireside Fund II, the second investment fund managed by Fireside Ventures, a venture fund started in May 2017 and focused on consumer brands across the country.

"India is a strategically important market for L’Oréal and a great place for innovation. With this investment, L’Oréal will further connect to the dynamic ecosystem of Indian startups and work with them on emerging consumer needs to co-create tomorrow’s beauty trends," Amit Jain, managing director, L’Oréal India, said in a statement.

“We are excited to have L’Oréal as a partner in our vision to champion the next generation of beauty entrepreneurs. Together we intend to scout and co-create a new generation of innovative beauty products, built in India for global consumption and in faster timeframes," Kanwaljit Singh, managing partner at Fireside Ventures, said.