Nov 28, 2019, 07:00 ET
CLICHY, France and MONTRÉAL, Nov. 28, 2019 /CNW Telbec/ – L’Oréal and Functionalab Group announce a strategic investment of L’Oréal in Canadian company Functionalab Group, leader of aesthetic medicine clinics in Canada with its Dermapure and Project Skin MD® brands and expert in professional skin care.
With a network of 15 medical aesthetic clinics in Canada, Functionalab Group offers a complete range of non-invasive rejuvenating treatments such as laser, injections, cryolipolysis, wrinkle and skin tightening treatments with ultrasound or radiofrequency.
With this partnership, L’Oréal reinforces its position in the professional skin care market where the Group is already present with the brand SkinCeuticals, whose distribution will be extended to all Dermapure clinics.
Brigitte Liberman, President Active Cosmetics Division, said: « Aesthetic procedures are increasingly integrated into the consumer’s beauty routines. With this investment, we will be able to better understand their expectations in regard to procedures, aesthetic gestures and offer them tailor-made beauty routines. This is also a great opportunity for the SkinCeuticals brand to establish a strong partnership with a Canadian leader of aesthetic medicine clinics. »
Francis S. Maheu, Co-Founder and CEO of Functionalab Group, said: «This strategic partnership with L’Oréal not only validates our leadership position in Canada, but also the unique positioning and attractiveness of our concepts and brands in the field of aesthetic medicine clinics. We are proud to be able to count on the support of L’Oréal to continue executing and accelerating our growth plan including a geographic expansion. »
This minority investment was done through L’Oréal’s corporate venture capital fund BOLD Business Opportunities for L’Oréal Development, created by L’Oréal.
With this transaction, Functionalab Group remains under the control and leadership of its current management team based in Montreal.