Published by Global Banking & Finance Review®
Posted on January 21, 2026
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleL'Oreal is investing $383 million to set up a tech hub in Hyderabad, India, aiming to boost the local economy and enhance its tech capabilities.
(Corrects spelling of L’Oréal in headline and text)
Jan 21 (Reuters) - French cosmetics giant L’Oréal said on Wednesday it will set up a beauty tech hub in the south Indian city of Hyderabad with an initial investment of over 35 billion rupees ($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’Oréal CEO, and the state government of Telangana formalized 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 $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 modernize it by adapting global standards on tax transparency, Reuters reported in December.
($1 = 91.2860 Indian rupees)
(Reporting by Urvi Dugar and Haripriya Suresh in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
Investment refers to the allocation of resources, usually money, in order to generate income or profit. It can involve purchasing assets such as stocks, bonds, or real estate.
A tech hub is a geographical area that fosters technology innovation and entrepreneurship. It typically includes a concentration of tech companies, startups, and support services.
The local economy refers to the economic activities and financial transactions that occur within a specific community or region. It encompasses businesses, jobs, and services that support local residents.
Financial services are economic services provided by the finance industry, including banking, investment, insurance, and real estate services that facilitate transactions and support economic growth.
A currency exchange rate is the value of one currency in relation to another. It determines how much of one currency you can exchange for another and is influenced by various economic factors.
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