THAT WHAT? L’Oréal has launched a new initiative, L’Oréal Bold Female Founders, to support startups led by women.
THE DETAILS According to a press release, “BOLD Female Founders will focus on global investment opportunities across the beauty ecosystem, including brands, beauty technology, biotechnology and green science. This venture and entrepreneurship funding is consistent with the group’s strategic commitment to advance gender equality.”
THE WHY? Regarding the investment, L’Oréal continued: “BOLD’s strategic investment is the latest step in our long-standing commitment to women’s equality and empowerment.”
Nicolas Hieronimus, Chief Executive Officer of L’Oréal, said: “L’Oréal has been committed to women’s empowerment for many years through numerous programs and initiatives of the L’Oréal Foundation, such as L’Oréal UNESCO For Women in Science and women for the climate. BOLD Female Founders aims to promote venture funding for female entrepreneurs, which remains at incredibly low levels. By addressing the inequalities that passionate female founders face in their entrepreneurial journey, we bring to life our purpose: to create the beauty that moves the world.”