Paris, June 25, 2002 - 6 pm
L’Oréal and Nestlé announce the signing of an agreement for the creation of a joint company called Laboratoires INNEOV. The company’s mission is to develop the market for cosmetic nutritional supplements on a global basis. The company, which is owned 50% by L’Oréal and 50% by Nestlé, will have its headquarters in France.
The aim of such nutritional supplements, the results of research efforts, is to improve the quality of skin, hair and nails by supplying nutrients essential to their physiology.
Laboratoires INNEOV’s products will benefit from both Nestle’s nutritional research and L'Oréal’s dermatological research. The partnership represents the first time that the cosmetic and food industries have joined together to enter this fast-growing market.
The conclusion of this agreement is subject to regulatory approval.
|Contacts at L'ORÉAL|
| Shareholders and Market Authorities |
Mr. François ARCHAMBAULT
Phone: +33 220.127.116.11.45
[email protected] http://www.loreal-finance.com
|Analysts and Institutional Investors |
Mrs Caroline MILLOT
Phone: +33 18.104.22.168.82
Fax: +33 22.214.171.124.02
Mr. Lorrain KRESSMANN
Phone: +33 126.96.36.199.24