In 2022 L’Oréal, the world’s leading beauty player, launched a 25 million euro initiative to invest in “…the creativity and talent of the next generation of female entrepreneurs”.
L’Oréal BOLD Female Founders initiative is a groundbreaking endeavour which continues in 2023, is designed to support and invest in female-led start-ups. Developed by L’Oréal’s venture capital fund, this initiative signifies the company’s commitment to gender equity and its dedication to empowering women in entrepreneurship.
L’Oréal has long been committed to women’s empowerment, evident in its various programs and initiatives, such as the L’Oréal Foundation’s, L’Oréal UNESCO For Women in Science and Women for Climate campaigns. Nicolas Hieronimus, Chief Executive Officer of L’Oréal, emphasised the significance of BOLD Female Founders, stating: “Today, 30% of the start-ups of our BOLD venture capital fund are led by women. With BOLD Female Founders, we want to accelerate our venture capital investment to support female entrepreneurship.”
Gouzelle Ishmatova, BOLD Chief Strategy Officer, added, “A more inclusive venture capital industry means more opportunities for underrepresented female entrepreneurs. Start-ups led by women consistently outperform, yet they attract less funding. With BOLD Female Founders, we aim to be a game changer by investing in the creativity and talent of the next generation of female entrepreneurs.”
We spoke with Claire Kettell, founder of renowned beauty and hairdresser salon supplier SalonServe, established in 1994, for her views; she told us,
“Women in the beauty industry often work harder and overcome additional barriers to be heard, recognised, and respected. This initiative is certainly a positive step and recognition that the journey towards equality and breaking down gender-related challenges is continuous.”
BOLD Female Founders will provide investment opportunities and financial backing to female entrepreneurs worldwide, focusing on the broader beauty ecosystem, including brands, beauty tech, biotech and green science. Through an initial allocation of 25 million euros, L’Oréal aims to address the existing gender disparities in venture funding and foster the growth of women-led start-ups.
The launch of BOLD Female Founders aligns with L’Oréal’s mission to champion the cause of women within the beauty sector. This strategic investment signifies L’Oréal’s longstanding commitment to women’s equity and empowerment.
About L’Oréal
L’Oréal, the world’s leading beauty player, has been fulfilling the beauty aspirations of consumers around the world for over 110 years. With a purpose to create beauty that moves the world, L’Oréal’s approach to their sphere is inclusive, ethical, generous and committed to social and environmental sustainability. For more information, please visit L’Oréal’s Media Room.
