French beauty giant L’Oréal has acquired German vegan cosmetics company Logocos Naturkosmetik, with intentions to expand its reach internationally.
Based in Hanover, Logocos Naturkosmetik specializes in all-natural, plant-based beauty products, such as haircare, skincare, and makeup, under the brands Sante and Logona – at premium and affordable prices respectively. The company distributes its products across Germany and Europe, with net sales of around €59 million.
L’Oréal’s Consumer Products Division president, Alexis Perakis-Valat, said of the new acquisition: “Logocos brings to the Division two authentic and certified natural brands as well as a unique expertise from a worldwide pioneer of the organic beauty market. In line with L’Oréal’s strategy to ‘seize what starts,’ this acquisition reinforces the position of the Division on one of today’s major beauty ascending trends.”
Fabrice Magarbane, the General Manager for L’Oréal Germany added that the company is “excited” to welcome the expertise of Logocos Naturkosmetik into the L’Oréal team, as the natural, organic cosmetics market in Western Europe is currently booming.
L’Oréal isn’t the first major company to capitalize on new consumer desire for ethical beauty products. International retailer Primark recently declared its line of beauty products “PS…” as cruelty-free. The company stated in July, “We are proud to announce that own-brand cosmetics at Primark have been awarded coveted Leaping Bunny status by Cruelty Free International, the gold standard certification programme for products that are free from animal testing.”
Further, Walmart, one of the United States’ biggest hypermarket chains, recently added a new line of Wild Spirit vegan fragrances to its offerings. “We are beyond thrilled to bring our customers this line of eco-conscious, luxurious fragrances at an incredible value,” said the senior buyer for Walmart Beauty, Laura Buntain.
In the UK, sales of vegan beauty products have grown by 38 percent in the last year, and in India, demand is also soaring. This is all down to the “arrival of the thoughtful consumer,” believes Shankar Prasad, the founder of Indian vegan beauty brand Plum.
“The thoughtful consumer goes beyond ‘I-me-myself’ and thinks about what goes into making the product s(he) is using,” Prasad told the Indian Express in May.