L’oreal to invest ₹350 crore in Hyderabad, signs historic deal with Telangana government at Davos

French cosmetics giant L’oreal said on Wednesday it will set up a beauty technology center in the southern Indian city of Hyderabad with an initial investment of over 35 billion rupees ($383.4 million).

The center aims to become a global hub for AI-driven beauty innovation, creating 2,000 tech jobs by 2030 and accelerating the rollout of advanced AI beauty solutions, the company said in a statement.

L’oreal CEO Nicolas Hieronimus and the Telangana state government formalized the partnership at the Davos World Economic Forum.

Telangana has rapidly emerged as a major investment and technology hub in South India.

Bilateral trade between India and France has reached $15 billion by 2024, and Indian Prime Minister Narendra Modi and French President Emmanuel Macron are establishing warmer relations.

Both sides have been working to reform tax treaties since 2024 to modernize them by adapting global standards on tax transparency, Reuters reported in December.

($1 = 91.2860 Indian rupees)