L'Oréal Groupe is "reaffirming its unwavering commitment to open innovation"—and showcased the winners of its Big Bang Beauty Tech Innovation Program at the China International Import Expo (CIIE) on November 5-10 in Shanghai.
On November 7, L'Oréal Groupe organized the North Asia Big Bang Community Innovation Summit, bringing together representatives across all five North Asian markets.
The company introduced a new sustainability-focused track at the summit, to address the rising demand for green beauty solutions. "This addition will steer future projects toward eco-friendly practices, fostering collaborative exploration of sustainability opportunities," the press release states.
On November 6, the winners of the Big Bang Innovation Awards were announced, and L'Oréal Groupe held an awards presentation at its booth at CIIE (shown above, left). Jean-Paul Agon, chairman of L'Oréal Groupe, and Joan Valadou, Consul General of France in Shanghai, presented the awards.
Agon (pictured above, bottom right) spoke at CIIE and said, "Investing in China is investing in the future," stated CIIE on Instagram.
Vincent Boinay, President of L'Oréal North Asia Zone and CEO of L'Oréal China (shown above, top right), explains, "Big Bang is a platform where we harness the unique strengths of each market within our North Asia Beauty Tech ecosystem, to unlock unprecedented synergies and accelerate the development of groundbreaking beauty solutions."
The program has become L'Oréal Groupe's first regional open innovation initiative in North Asia, "fostering unprecedented synergies and amplifying innovation potential across North Asia and beyond," the press release states.
New Opportunities for the Chinese Market
L'Oréal Groupe aims to unlock new opportunities for the Chinese market through its "Big Bang" program and initiatives—and foster deeper collaboration between French and Chinese innovators.
CTI Biotech, a French company pioneering human skin testing and 3D-bioprinting, was a Big Bang winner in 2023. CTIBiotech will deliver its first order of 3D skin tissue and cell models in China on November 8 at the Oriental Beauty Valley International Cosmetics Conference, marking a significant milestone in its development in the Chinese market.
The 'Big Bang' Startup Winners
The "Big Bang" program attracted nearly 600 startups this year. It was the first edition to include all five markets in North Asia—Japan, South Korea, Hong Kong, Taiwan, and the Chinese mainland, where the program originated in 2020.
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Far Eastern New Century
