L'Oreal USA's research institute for ethnic hair and skin products will move into the company's innovation hub in Clark, N.J., at the end of June.
L’Oreal was applauded in 2003 for its renovations and improvements to the institute’s previous location in Chicago’s Near South Side, having invested a total $12 million into the building after the city awarded the company $2 million in tax increment financing to fill the 57,600-square-foot vacant space.
The 21 affected employees at the institute have now been given the opportunity to relocate to Clark or another L’Oreal location.
“As the leader in the ethnic beauty business that continues to grow, it became increasingly important that those involved in this important work have closer proximity to the larger team of L’Oreal researchers at our main research center as well as to our business and industry partners in the area,” spokesman Matthew DiGirolamo said in a news release.
The ethnic beauty industry is currently projected to grow to $761 million by 2017, since consumers are spending more on personal care annually.
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