L’Oréal has made its first investment in a Chinese packaging materials company. The capital was directed to Zhejiang Rightway New Material Technology through the Beauty Pioneer Fund, a venture fund L’Oréal established this year with Tiantu Capital. Founded in 2022, Rightway develops biodegradable materials for cosmetics packaging and counts Chanel, L’Oréal, and Bloomage BioTechnology among its clients. The company won in the sustainability track of L’Oréal’s Big Bang startup competition in North Asia. The investment marks a strategic shift for L’Oréal in China — from acquiring brands to taking minority stakes in tech and material science startups.