Unilever seeks out beauty tech start-ups ahead of push into social commerce
Unilever is on the hunt for disruptive social commerce start-ups to collaborate with in a bid to pioneer new beauty tech innovations.
With the global social commerce market expected to reach nearly $3,370 bn by 2028, the beauty and personal care manufacturer is hungry to expand its reach in the fields of livestream commerce, shoppable media, group buying and gaming commerce.
Via its new Positive Beauty Growth Platform – Unilever is now hoping to connect with scaleups and start-ups from around the world.
Launching tomorrow (6 October) with an Open Forum, the platform is inviting startups operating in the fast-growing world of social commerce to enter a series of pitch competitions and entrepreneurial challenges.
The beauty and personal care global social commerce market segment is projected to grow at a compound annual growth rate of over 30% between 2021-2028, Unilever said.
To bring this growth opportunity to life, the Positive Beauty Growth Platform is especially interested in partnering with entrepreneurs, from seed startups to late-stage scaleups, in the field of livestream commerce, shoppable media, group buying and gaming commerce.
Successful teams will be given the opportunity to pilot their idea in collaboration with some of its world leading beauty brands including Dove, AXE and Love Beauty & Planet.
Unilever President Beauty & Personal Care Sunny Jain said: “Collaboration in the mega-trends of the future is a strategic imperative for Unilever.
“Building a thriving two-way relationship with the global startup community helps power innovation and experimentation, deliver business solutions and fuel growth.
“The Positive Beauty Growth Platform has been designed to do just that. By harnessing startups’ disruptive approach, we will help future-proof our brands by pioneering into new spaces shaping the beauty industry.”