LRLCY Loreal Co (PK)

   By Joshua Kirby 
 

L'Oreal SA said Thursday that it is investing in U.S. social-selling platform Replika Software Inc. as it aims to boost its e-commerce sales.

The French cosmetics giant said it is making a minority investment in Replika Software via its venture-capital fund, BOLD Business Opportunities for L'Oreal Development. The platform allows brands to scale networks of social sellers to sell online and market via social media, L'Oreal said.

Replika Software is based in New York and has offices in Paris.

Social commerce enables new sales channels such as live shopping or livestreaming, said Lubomira Rochet, L'Oreal's chief digital officer. "Our ambition is to crack this new channel and create a healthy and dynamic ecosystem of social sellers for the beauty category," Ms. Rochet said. E-commerce currently makes up around 25% of L'Oreal's revenue, she said.

The company didn't reveal the financial details of the investment.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

December 10, 2020 03:40 ET (08:40 GMT)

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