Core Insights - L'Oréal is accelerating its transformation in the beauty technology sector through open innovation, highlighted by its participation in the China International Import Expo with the "BIG BANG Beauty Tech Co-Creation Program" for the third consecutive year [1][2] - The program focuses on integrating AI and sustainable technologies, showcasing L'Oréal's forward-looking investments in the beauty tech landscape [1][3] Expansion of the Program - The BIG BANG program has expanded its scope, introducing "Transforming Sustainability" as an independent track alongside three other core tracks: "New Experience," "New Product Research," and "New Operations" [3] - This expansion aims to address sustainability challenges in the beauty industry through technological innovation, such as exploring AI-driven localized green business models [3] AI Integration and Innovations - Over twenty innovative startups from China, Japan, South Korea, and France participated in this year's expo, deeply integrating AI technology across various aspects of consumer experience, business applications, research, and supply chain [2][4] - Collaborations with tech giants like IBM, Google, and NVIDIA are enhancing the integration of AI into the BIG BANG program, positioning AI as a key driver of advancements in beauty technology [5] Regional Collaboration and Global Reach - The program has received over 700 applications this year, indicating a significant increase in interest and the establishment of a vibrant innovation community in North Asia [8] - L'Oréal's strategy includes leveraging successful experiences from the BIG BANG program to expand into South Asia, the Middle East, and North Africa, thereby building a global beauty tech ecosystem [8] Investment and Incubation - The BIG BANG program serves as a crucial channel for L'Oréal to incubate and invest in startups, providing financial support and facilitating strategic partnerships [10][11] - To date, the program has attracted over 2,500 startups and successfully incubated more than 80 projects, translating innovative solutions into commercial applications [11][12] Future Directions - L'Oréal's dual strategy of "Technologization" and "Globalization" aims to achieve sustainable growth in a changing beauty market, reinforcing its commitment to technological investment and a comprehensive industry ecosystem [13]
科技巨头与初创两手抓,美妆产业步入“科技竞赛”时代