Deals this week: L’Oreal, Procter & Gamble International, Billabong

L’Oréal has entered a partnership with Founders Factory, a digital accelerator and developer, to invest in beauty tech start-ups as a part of its strategy to boost business in beauty and tech sector.

Under the agreement, L’Oréal will invest in five beauty tech start-ups and also assist in setting up two new firms every year. The beauty firm will help in launching new products, while Founders Factory will be responsible for the digital strategy.

As part of L’Oréal’s strategic investment, three of its executives will be members of the beauty sector committee of Founders Factory.

Procter & Gamble International is to sell its Christina Aguilera fragrance business to Elizabeth Arden, according to an agreement signed between them.

The beauty products company will acquire the global licence and certain related assets of the singer’s perfume, which was launched in 2007.

The deal is expected to be complete in the first quarter of next year and is part of Elizabeth Arden’s perfume business growth strategy.

Surf company Billabong is collaborating with haircare product business John Frieda Hair Care to launch A Bikini Kinda Life X Beach Blonde kit.

The companies are targeting beach goers with their exclusive launch, which will include a range of travel-sized John Frieda Hair Care products from its Beach Blonde line and accessories from Billabong.