L'Oreal plans to acquire 10% stake in Swiss skincare firm Galderma

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L'Oreal plans to acquire 10% stake in Swiss skincare firm Galderma - Business Standard

Quick Summary:

L'Oreal will not take a seat on Galderma's board to prevent any relationship on similar business activity, executives said.

L'Oreal's dermatological beauty division, which also includes the La Roche-Posay brand, has grown by high-double digits in recent years, boosted by social media and consumer interest in science since the COVID pandemic.

Galderma, originally set up as a joint venture between Nestle and L'Oreal before the latter sold its 50 per cent stake in 2014, listed an initial tranche of its stock in late March.