At this year’s VivaTech — the premier global technology summit — beauty tech innovations from China, Japan and Korea drew significant international attention. In a groundbreaking initiative, L’Oréal showcased startups from all three markets on the global stage, marking a significant milestone in the globalization of North Asia’s open innovation ecosystem.
On June 11, the 9th edition of VivaTech commenced in Paris, France. As a long-standing partner of the event, the L’Oréal Group convened a forum highlighting the North Asia market’s open innovation strength on June 12, featuring several emerging innovators: Veminsyn from China, a pioneer in innovative biotech; TheSea from Japan, a generative AI company; and Asleep from South Korea, an AI sleep-tech firm. The founders engaged in a discussion, sharing practical insights and highlighting pivotal future directions within the current global beauty innovation landscape.
L’Oréal’s open innovation model charts the course for the beauty industry’s future; it’s not just about owning technology, but connecting with it.
Barbara Lavernos, deputy chief executive officer of research, innovation and technology at L’Oréal Group, said, “L’Oréal is born from science and to continue to push Beauty frontiers, we believe in the power of co-creation, collaboration and co-innovation with the external world. Big Bang connects us with dynamic startups, fostering cross-industry collaboration and accelerating the development of disruptive solutions. The success of this model has inspired its expansion across other regions, amplifying our open innovation impact globally.”
Lan Zhenzhen, chief corporate affairs and engagement officer of L’Oréal North Asia and China, reflected on the five-year journey of building the open innovation ecosystem as a key architect.
“Our North Asia Open innovation ecosystem originated with the Big Bang program pilot back in 2020, she said. “Now it has grown into a robust open innovation ecosystem, continuously powering beauty innovation. We welcome more partners to join us and co-create the beauty that moves the world.”
L’Oréal North Asia’s open innovation ecosystem is built on a foundation of mutual benefit and a shared vision for shaping the future of beauty. This mutual benefit essentially addresses the core challenges experienced by both startups and industry giants.
Left: Guests at the “New Frontiers of Beauty Powered by Open Innovation” Forum. Right top: Signing ceremony of the strategic partnership between L’Oréal and Veminsyn. Right middle: TheSea winning the 2024 Big Bang competition. Right bottom: Asleep collaborated with the L’Oréal brand La Roche-Posay to develop a sleep monitoring app.
L’Oréal offers startups a robust support system, collaborating with partners such as governments, industry associations, industrial clusters, corporations, universities, media, incubators and investors. South Korean company Asleep is a standout success story from the Big Bang North Asia innovation ecosystem. Asleep connected with L’Oréal at VivaTech 2023, won the Big Bang competition and subsequently collaborated with L’Oréal brand La Roche-Posay to develop a sleep monitoring app.
For L’Oréal, restructuring its organizational framework to keep pace with external innovation and transitioning towards an open, mutually beneficial ecosystem, marks a crucial transformation necessary to confront future challenges.
Rapid advances in biotechnology are reshaping industry norms. In May, Chinese biotech startup Veminsyn secured a minority investment from L’Oréal Group, becoming the second company winning investments as a Big Bang winner.
Veminsyn, with L’Oréal’s support, has constructed a database encompassing over 10 billion molecules and developed a molecular docking algorithm to identify novel ingredients. The company has also established a rare plant germplasm resource bank, effectively balancing innovation and biodiversity conservation.
The biggest challenge for startups is to identify the best commercial application for their technology and channels for market validation. TheSea, whose core product was AI-generated key visuals, discovered through in-depth discussions with L’Oréal that its technology was better suited for e-commerce product detail pages.
These collaborations have yielded groundbreaking products and services, fueling continuous innovation across the beauty tech landscape — spanning AI, biotechnology and smart devices — solidifying L’Oréal’s leadership at the forefront of technological advancement.
The L’Oréal Big Bang open innovation ecosystem has made steady progress in transcending geographical boundaries. Beyond its success in the North Asia region, the program inspired the launch of Big Bang in the SAPMENA (South Asia Pacific, Middle East, North Africa) region in 2024. This year marks a significant step forward: bringing regional startups to the global stage.
L’Oréal’s North Asia innovation ecosystem adeptly leverages regional strengths. Through the Big Bang program, it unites diverse stakeholders from various markets, fostering a collaborative and mutually beneficial innovation ecosystem.
A standout example is TheSea, the Japanese company that joined the forum. Through its involvement in Big Bang, TheSea identified a strong potential for its technology within China’s rapidly expanding e-commerce sector and subsequently partnered with L’Oréal China.
This illustrates the power of regional synergy: L’Oréal’s resource integration expertise combines Japan’s advanced technology with China’s vast market and distinctive commercial landscape, creating a synergy where the whole is greater than the sum of its parts.
Dhimoy Roy, vice president of research and innovation at L’Oreal North Asia, emphasized the influence of North Asia’s innovation ecosystem.
“From the cutting edge of AI and robotics to the frontiers of biotechnology, North Asia’s innovation ecosystem is a powerhouse of scale, synergy and unprecedented speed — shaping a smarter, more connected world,” said Roy. “At L’Oréal North Asia, we strive to amplify our world-class internal expertise by partnering with the brightest minds across this ecosystem — from start-ups and universities to leading industry players. Together, we are co-creating beauty innovations that touch the life of North Asian consumers and move the world.”
Furthermore, the global innovation map is undergoing significant changes, with new innovation centers rapidly emerging.
This year, L’Oréal’s innovations presented at CES and VivaTech have garnered significant attention. The Cell BioPrint was developed through an exclusive partnership between L’Oréal and the South Korean startup Nanoentek.
The Lancôme Renergie Nano-Resurfacer 400 Booster utilizes technology from Shenzhen Nanomed, a participant in the Big Bang China competition. The infrared hairdryer AirLight Pro was co-created with the Chinese company Zuvi. These showcases have attracted significant interest, highlighting the growing international recognition of the innovation strengths of the North Asia market.
From top to bottom: Lancôme Cell BioPrint, Lancôme Renergie Nano-Resurfacer 400 Booster and L’Oréal Pro AirLight Pro.
Guive Balooch, global managing director of augmented beauty and open innovation at L’Oréal Group, said, “What I find particularly unique about the ecosystem in North Asia is the strong connection between innovation creation and its design for scaling. This interconnectedness is well demonstrated within this ecosystem. By merging these innovations with our beauty expertise, we can create significant disruptions in response to consumer demands for enhanced performance, not just in Asia but globally.”
From an industry innovation perspective, Big Bang and the North Asia innovation ecosystem have significantly revitalized beauty tech innovation. Numerous startups contribute novel technologies and ideas, providing the industry with new perspectives and solutions. These advances benefit consumers by providing diverse, personalized, high-quality and sustainable beauty products and services.
Amid global market uncertainties, L’Oréal’s open innovation ecosystem transcends traditional corporate innovation models. By building an open, thriving ecosystem, it efficiently transforms external innovation vitality into sustained growth momentum for the company.
Sustaining this innovative edge requires continuous innovation and open collaboration. On one hand, companies must continually invest resources, monitor cutting-edge technologies, improve startup support mechanisms and attract more high-potential startups. On the other hand, businesses, research institutions and government bodies should strengthen their partnerships to foster an environment conducive to innovation.
“We are privileged to witness the North Asia innovation ecosystem, developed through the Big Bang Beauty Tech Innovation Program, take the international stage, fully demonstrating the vibrant dynamism and robust growth momentum of North Asian technology,” said Vincent Boinay, president of the North Asia Zone and chief executive officer of L’Oréal China. “L’Oréal’s open innovation ecosystem continues to evolve. It empowers the group’s innovation internally and cultivates new forces externally, establishing a reference model for accelerating beauty tech development. We look forward to strengthening ties with our open innovation ecosystem partners, using beauty as a bridge to create the beauty that moves the world.”
In the long term, industry leadership may no longer be reserved solely for companies with the most resources but rather for those that excel at connecting diverse innovation forces and facilitating efficient value flow within the innovation ecosystem. By promoting the “North Asia model” globally, L’Oréal is also exploring a more agile and efficient paradigm for global collaboration, thereby undoubtedly unlocking new realms of possibility for the future of the global beauty industry.
