Japan may have been the birthplace of the nutricosmetics market, but China could be its future. That’s the thinking behind L’Oréal and Nestlé’s decision to enter the Chinese market next year with Innéov, the nutricosmetics joint venture the two companies started in 2002.
“There is a huge opportunity in Asia,” Brigitte Liberman, head of L’Oreal’s Active Cosmetics unit, which operates Innéov, told Bloomberg News.Liberman said Innéov also may enter Chile and Argentina. The Innéov line, which includes the Fermete anti-wrinkle supplements, is sold in 16 European countries, as well as in Brazil and Mexico.
Nutricosmetics or “beauty from within” products remain a nascent category in much of the world, making the potential for global expansion a key opportunity for companies such as L’Oréal and Nestlé. The regulatory roadblocks that Innéov has faced in Europe are also likely driving the brand’s appetite for international growth. In May, the European Food Safety Authority (EFSA) rejected Innéov’s skin health claim.
Read the full article about Innéov’s move to China.