Henkel AG & Co. KGaA said Aug. 22 that it invested an undisclosed sum in beauty care startups youtiful and Purish to gain expertise in digital go-to-market business models.
Berlin-based Purish operates an e-commerce platform for beauty products, while youtiful runs a social selling platform where products are added based on users' votes.
"Digital direct-to-consumer relationships are becoming increasingly important as they allow connecting with consumers to improve consumer experience and capture trends early. We look forward to collaborating with both Purish and youtiful and to help them grow their businesses," said Gesa Geissel, head of corporate venturing at Henkel's beauty care division.
Under the collaboration, both the startups will get access to Düsseldorf, Germany-based company's open innovation platform Henkel X to enhance their product offering and positioning in the market.
The consumer goods producer made the investments through its venture capital vehicle Henkel Ventures.
