L’Oréal acquires Gjosa to advance sustainability in the beauty industry
16 January 2024 15:10
This strategic acquisition follows L’Oréal’s earlier minority investment in Gjosa in 2021 through its corporate venture capital fund, BOLD. The move significantly enhances L’Oréal’s commitment to sustainable water management, aligning with its “L’Oréal for the Future” initiatives.
Gjosa has been instrumental in developing the L’Oréal Professionnel Water Saver, a professional showerhead that made it to TIME Magazine’s “100 Best Inventions of the Year” in 2021. This innovative technology enables hair salons to significantly reduce water consumption by up to 69% while maintaining an optimal hair washing experience. Since its introduction in 2023, the Water Saver has been implemented in over 10,000 professional salons across Europe and the Middle East, leading to substantial water savings.
The acquisition is not only a testament to L’Oréal’s drive for sustainability but also its focus on integrating cutting-edge technology into beauty care. Nicolas Hieronimus, CEO of L’Oréal Groupe, emphasizes that acquiring Gjosa will enhance the company’s ability to incorporate sustainability into its products and services. The collaboration aims to scale up sustainable beauty solutions that are less resource-intensive and introduce them into the wider beauty ecosystem.
Barbara Lavernos, Deputy CEO of L’Oréal, underscores the urgency of this mission in light of the growing global water crisis. By 2030, nearly 60% of the world’s population is expected to face water stress. The combination of L’Oréal’s market leadership in beauty and Gjosa’s expertise in water conservation technologies is poised to transform the beauty industry with sustainable Beauty Tech innovations.
The founders of Gjosa have expressed enthusiasm for this new chapter with L’Oréal. They anticipate that the partnership will lead to the development of new applications and markets for their technology. Laurent Manca, CEO of Gjosa, has also highlighted the potential of this collaboration to bring transformative, sustainable innovations to the beauty industry.
Subject to standard conditions precedent, the completion of the acquisition is expected in the coming weeks, marking a significant step towards sustainable beauty practices on a global scale. ggba