Swiss food behemoth Nestlé is setting up a joint venture with Paris-based hair care and cosmetics giant L’Oreal in a bid to develop the market for cosmetic nutritional supplements.
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L’Oreal said that the deal, which is still subject to regulatory approval, will mark the first link up between the cosmetics and food industries.
The new company will be called Laboratoires Inneov and headquartered in France. It will focus on developing nutrient-fortified skincare, haircare and nailcare products.
