Wal-mart is seeking to make cosmetic products accessible to all consumers, with the hope that consumers will find a more natural, healthy, and fun way to look.
The Seattle-based retailer announced Friday it is seeking $1.5 billion in funding to continue investing in new skin care brands and skin care products that will offer consumers more options, including an array of skincare, foundation, and skin-care products.
The company also announced that it is partnering with the nonprofit Skin Care Institute to create new products to promote wellness.
“We are excited to continue expanding our commitment to supporting the health and wellness of people of all ages,” Wal-Marts senior vice president of corporate development Tom Kohn said in a statement.
In addition to the $1bn in annual investments, Wal-Merchants board of directors voted Friday to expand its board to 15, which includes Wal-Man’s board. “
This funding will enable us to continue to invest in new products that deliver high-quality skin care that delivers a better result for people who want to be healthier.”
In addition to the $1bn in annual investments, Wal-Merchants board of directors voted Friday to expand its board to 15, which includes Wal-Man’s board.
The board also approved the creation of a separate non-executive board that will oversee a $2 billion investment fund to support a broader portfolio of brands, including the $20 billion Wal-Packaged foods, and cosmetics brands.