L’Oréal’s Big Bang Beauty Tech Innovation Program was launched in mainland China in 2020 and has expanded to Japan, South Korea, Taiwan, and Hong Kong in the following years. The program aims to accelerate beauty innovation and investment in the North Asian region by partnering with startups and SMEs. Each market in North Asia has tailored its Big Bang program with unique themes that reflect local strengths, such as future science, phygital consumer, operations 4.0, gen-AI, and sustainability.
In Japan, the focus is on green sciences research and innovation, while South Korea’s program includes medical-inspired beauty and formulation, as well as generative AI. Taiwan’s program highlights sustainability under the theme Green Beauty Consumer Journey, and Hong Kong focuses on smart retail and Customer Experience Transformation through immersive phygital interactions. The president of L’Oréal North Asia emphasizes the importance of leveraging each market’s unique strengths to accelerate beauty tech transformation.
Since its inception, over 2,000 participants have taken part in Big Bang across North Asia, with 60 projects and technologies realized for commercial use. L’Oréal has worked with startups in various fields such as bio-tech, material science, and data, resulting in innovations like the patented ‘Nanochip’ technology used in Lancôme’s Renergie Nano-Resurfacer | 400 Booster. The program also aims to develop a community of entrepreneurs known as “Big Bangers” and provides opportunities for global exposure through events like VivaTech.
The international exposure from Big Bang has already yielded results for participants, such as French company CTIBiotech, which signed an MOU with Oriental Beauty Valley to expand its business in Greater China. Additionally, L’Oréal has made investments in Chinese biotech companies through the program. By fostering innovation and staying at the forefront of beauty tech, L’Oréal is able to offer the industry a framework for future sustainability and maintain its position as a leading cosmetics company in the world.
