[PARIS] French cosmetics giant L’oreal said on Wednesday (Jan 21) it will set up a beauty tech hub in the south Indian city of Hyderabad with an initial investment of US$383.4 million.
The hub aims to be a global base for AI-driven beauty innovation, create 2,000 tech jobs through 2030, and speed up the rollout of advanced AI beauty solutions, the company said in a statement.
Nicolas Hieronimus, L’oreal’s CEO, and the state government of Telangana formalised the partnership at the World Economic Forum, Davos.
Telangana has rapidly emerged as a key investment and technology hub in southern India.
Bilateral trade between India and France stood at US$15 billion in 2024, and Indian Prime Minister Narendra Modi and French President Emmanuel Macron have been forging warmer ties.
The two sides have also been working to recast their tax treaty since 2024 to modernise it by adapting global standards on tax transparency. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
