L'Oreal and Nestle Close Joint Venture Inneov
November 27 2014 - 12:05PM
Dow Jones News
By Jason Chow
PARIS--L'Oreal SA (OR.FR) and Nestle SA (NESN.VX) announced
Thursday it would end its Inneov joint venture, a project to
develop and sell nutritional beauty supplements, in the first
quarter of 2015.
The companies said in a statement that the co-owned brand, which
produced supplements for skin and hair beauty that were sold in
pharmacies, "has not met the development expected by both
partners," having just posted revenues of 52 million euros ($64.9
million) in 2013.
Both firms added they would re-assign the 91 employees currently
employed at Innéov.
Write to Jason Chow at Jason.Chow@wsj.com
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