Hyderabad, Jan. 22 -- French multinational cosmetics company L'Oreal, has announced the launch of its first global technology hub in Hyderabad, an official statement said on Wednesday.

The announcement followed a meeting between Telangana state industries and information technology minister D Sridhar Babu with Nicolas Hieronimus, CEO of L'Oreal, at the World Economic Forum summit being held at Davos in Switzerland.

The official statement said the beauty tech hub will serve as a flagship to craft the next generation of AI-powered beauty innovation and services.

"With an initial investment of over Rs.3,500 crore through 2030, the hub is set to become a global powerhouse, unleashing the potential of Data, AI, Generative AI, and Agentic AI...