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Groupe SEB announces that it has taken a minority stake in IEVA Group through its investment vehicle, SEB Alliance. Founded in 2016 by Jean Michel Karam, IEVA Group designs and offers connected watches and jewelry that analyze the environment in order to improve the user’s beauty ritual. IEVA Group also offers hair care products under its Elénature brand, and has just finalized the acquisition of the Atelier du Sourcil brand network and its makeup products.
Groupe SEB has already established a presence in the personal care market with the Rowenta brand. It offers products such as haircare and hair-removal appliances, bathroom scales, among others. The Group recently expanded its presence in the beauty and cosmetics sector, notably with Feeligreen, in which it is the majority investor. Feeligreen offers connected cosmetic appliances that use non-invasive micro-currents to multiply tenfold the effectiveness of the personal care treatments associated with it.
IEVA Group’s connected and personalized beauty technology combined with its innovative distribution model caught the attention of Groupe SEB. Acquiring a stake in IEVA Group —whose technological expertise is developed in France—once again illustrates Groupe SEB’s determination to support a French industry of excellence in innovation and entrepreneurship.
Groupe SEB is present in the day-to-day lives of consumers. Our objective is to anticipate and serve their needs in their evolving beauty routine. Personal Care is a very promising new field with a lot of innovation. We have a lot of ambitions, especially in the field of services related to connected beauty. In addition to our in-house development capacity, the association with an innovative group like IEVA will be highly synergistic in terms of technological input and market access.
Groupe SEB created the SEB Alliance corporate venture arm in May 2011 to follow trends in the small domestic equipment market and in an open innovation approach destined to cover new technologies and expertise. SEB Alliance is both an investment structure and a tracker of technological developments.
Since its foundation, SEB Alliance has made over 15 direct minority investments, notably in the following 3 areas: digital, health/ wellness and sustainable development. SEB Alliance has also invested in several thematic venture capital funds.
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