L'Oréal Group Acquires Gjosa

L'Oréal Group announces agreement to acquire Gjosa, a Swiss-based company pioneering water-fraction technology. L'Oréal Group had previously launched the L'Oréal Professionnel Water Saver professional showerhead through a partnership with Gjosa, which was named "Innovation of the Year" by TIME Magazine in 2021. The water-fraction technology patented by Gjosa and used in L'Oréal Water Saver enables hairdressing salons to reduce water consumption by up to 69% while delivering an enjoyable and effective hair-washing experience to their clients. Since 2023, the sustainable showerhead has been used in more than 10,000 professional hairdressing salons in Europe and the Middle East, achieving water savings equivalent to 182 million litres, or 72 Olympic swimming pools. In coming years, this innovation will be made available in more than 200,000 salons worldwide. L'Oréal Group had announced through its venture capital fund "Business Opportunities for L'Oréal Development (BOLD)" that it would first invest in Gjosa in 2021. With this acquisition, L'Oréal Group has further strengthened its commitments under the "L'Oréal for the Future" Sustainability Programme, including a comprehensive and science-based approach to water management, and once again demonstrated to the scientific community that L'Oréal Group's operations are mindful of our planet. L'Oréal Group CEO Nicolas Hieronimus made the following statement on the matter: "Acquiring Gjosa will further strengthen our ability to integrate sustainability directly into our products and services. It will enable us to seamlessly integrate water-saving technology into new formulations and techno-beauty innovations. Together, we will rapidly scale and bring to the broader beauty ecosystem high-performance, sustainable beauty solutions that use fewer resources." L'Oréal Group President of Research, Innovation and Technology Barbara Lavernos, stating that "By 2030, approximately 60% of the world's population is expected to face water stress. Combining science and technology will play a vital role in our efforts to protect this precious resource," continued as follows: "Both L'Oréal and Gjosa are passionately committed to protecting valuable water resources while delivering the best beauty experiences to people around the world. With Gjosa's official integration into L'Oréal, we can accelerate research and innovation. We can bring more innovative and sustainable techno-beauty solutions to market for both professional and consumer markets. We are excited to welcome Gjosa to our family." L'Oréal Group's leading partner, Gjosa Founder Partner and Board Member Amin Abdulla, noting that they are working to develop the existing achievements in water conservation and transform this into new usage scenarios and applications, expressed: "Our partnership has been highly transparent and collaborative from the beginning; therefore, being part of the L'Oréal Group family and culture is very exciting." Gjosa CEO Laurent Manca said: "Combining L'Oréal's leadership in the beauty market with Gjosa's core expertise in water-saving technologies will contribute to a large-scale transformation of the beauty industry towards sustainable technology."