Alphabet, Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary Verily, a precision health company, and L'Oréal S.A. (OTC:LRLCY) announced Thursday a strategic partnership to further skin health.
What Happened: French fashion group L'Oreal said the beauty partnership with Google's precision health subsidiary will pursue two programs to better understand and characterize skin and hair aging mechanisms. This will help the French company's precision beauty tech strategy and product development.
The first program is a strategic R&D collaboration to establish a longitudinal biological, clinical and environmental view of skin health, leveraging L'Oreal's scientific knowledge of health and Verily's clinical science capabilities to decode and discover the links between exposome, skin aging and deep biology of the skin.
The second is a partnership with Verily's R&D Team and L'Oréal's Active Cosmetics Division, to explore the development of new technologies and tele-diagnosis solutions such as sensors, and AI algorithms for dermatology and skincare, that can form the basis for new services.
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Verily is Google's research unit focusing on life science research. After being a part of Google X until August 2015, it was spun off as an independent subsidiary of Google.
Why It's Important: The new partnership is expected to help learn about skin, and the new algorithms and tools will likely improve consumer access to personalized information so people can care for their skin more effectively.
"Thanks to this partnership, we want to lead a new era of skin health, through tech and science, to enable every person around the world the most inclusive, personalized, powerful and precise programs for their skin at each stage of their lives," said Nicolas Hieronimus, CEO of L'Oréal Group.
