L'Oreal and Nestle to End Joint Venture
L'Oral and Nestl announce the project to end the activity of their joint venture Innov during the course of the first quarter 2015. Created in 2002, Innov offers cosmetic nutritional supplements sold in pharmacies. The brand has not met the development expected by both partners. In 2013, Innov achieved a turnover of 52 million euros.
Both partners will keep the benefits of the research and intellectual property as well as the developments achieved which could be potentially used in their respective fields.
L'Oral and Nestl are committed to review all employment opportunities within their groups for all employees of Innov. This project is being submitted for information / consultation to employee representatives according to the regulations of each country concerned.
Both partners will keep the benefits of the research and intellectual property as well as the developments achieved which could be potentially used in their respective fields.
L'Oral and Nestl are committed to review all employment opportunities within their groups for all employees of Innov. This project is being submitted for information / consultation to employee representatives according to the regulations of each country concerned.