L’Oréal and Nestlé have announce their intention to end the activity of their joint venture Innéov during the course of the first quarter 2015.
Created in 2002, Innéov offers cosmetic nutritional supplements sold in pharmacies. According to L’Oréal, “the brand has not met the development expected by both partners.” In 2013, Innéov achieved a turnover of 52 million euros.
Innéov sales its products in Europe (Belgium, Germany, Spain, France, Italy, The Netherlands, Austria, Poland, Portugal, Russia, Switzerland) and Latin America (Brazil and Mexico).
Both partners wish to keep the benefits of the research and intellectual property as well as the developments achieved which could be potentially used in their respective fields. Furthermore, L’Oréal and Nestlé said they are committed to review all employment opportunities within their groups for all employees of Innéov.