Innovators from the region’s dynamic startup ecosystem to compete for a L’Oréal-funded commercial pilot opportunity and a year-long mentorship programme

SINGAPORE, Oct. 10, 2024 /PRNewswire/ — Four Singapore startups are making their mark on the regional stage, securing their places in the Grand Finale of the L’Oréal Big Bang Beauty Tech Innovation Program for the South Asia Pacific, Middle East & North Africa (SAPMENA) region. The four teams – Ai Palette, Creatively Squared, EVOV AI and OwlySearch – will be joined by other leading innovators from India and United Arab Emirates as the top 10 startups competing in the Grand Finale in Singapore on 23 October.

Launched in May, the L’Oréal Big Bang Beauty Tech Innovation Program is the biggest open innovation competition of this geographical scale. Promising startups will have the opportunity to work with L’Oréal in a commercial pilot with one of the Group’s 37 international brands, tap into potential exposure in 35 markets across the SAPMENA region, and embark on a year-long mentorship program with senior executives from L’Oréal and the program partners.

Lex Bradshaw-Zanger, Chief Marketing & Digital Officer for L’Oréal SAPMENA, said, “As the world’s leading beauty player, we are committed to partnering dynamic startups through initiatives like the Big Bang Beauty Tech Innovation Program, providing them access to resources and mentorship to scale their businesses regionally and connect with industry leaders. Congratulations to these innovative startups for being top disruptors in the SAPMENA region and qualifying for the Grand Finale. We are excited to accelerate their growth and shape the future of beauty together.”

The 10 startups heading into the Grand Finale were chosen after a rigorous selection process that evaluated their innovative solutions to key challenges within the beauty industry. These startups addressed one or more of the five challenge themes: Consumer Experience, Content, Media, New Commerce and Tech for Good. Through their participation, startups had the opportunity to connect with commercial and digital leaders, including strategic partners and mentors who offered insights to test new ideas and potential to scale.

L’Oréal is dedicated to fostering a culture of innovation. Fast Company recently named L’Oréal in its Top 50 2024 Best Workplaces for Innovators list and winner of the Beauty and Fashion category, in recognition of its commitment to encourage and develop innovation at all levels.

10 Grand Finalists of the SAPMENA Big Bang Beauty Tech Innovation Program

1.  Ai Palette (Singapore): Ai Palette’s AI-powered consumer insights platform helps brands to drive innovation and product development.

2.  AIM Technologies (United Arab Emirates): AIM Technologies delivers multilingual AI-powered consumer and market intelligence which deciphers complex data, enabling consumers to transform their business strategies according to the ever-changing landscape.

3.  Creatively Squared (Singapore): Creatively Squared is a visual content production platform that enables brands to efficiently produce original digital photos and videos that are on-brand, high quality and effective.

4.  Digital Rocket IO (United Arab Emirates): Digital Rocket IO’s AI platform empowers marketers to achieve unprecedented results by simplifying complex processes, enhancing productivity, and driving growth with Codeless AI solutions.

5.  EVOV AI (Singapore): EVOV’s AI-powered platform analyses market trends, viewer behaviour, and engagement metrics to provide marketers with actionable insights that drive high-performing short video content strategies.

6.  FluxGen Sustainable Technologies (India): FluxGen uses Generative AI-powered analytics and predictive alerts to help businesses take control of their water footprint – identifying inefficiencies, automating monitoring, and detecting leakages and wastage in their water network to reduce water consumption by up to 30%. 

7.  Live2.ai (India): Live2.ai is a SaaS platform offering interactive video solutions, focusing on shoppable video technology for Connected TV (CTV) and brands’ websites and apps. It enables businesses to create engaging videos where viewers can make purchases directly within the video content. 

8.  NeuralGarage (India): NeuralGarage uses Generative AI to solve the problem of awkward dubbing in entertainment, with technology that syncs actors’ lip movements with dubbed audio to create a natural viewing experience that preserves the cinematic feel of the original content. 

9.  OwlySearch (Singapore): OwlySearch transforms data in business intelligence, using its AI-powered search listening platform to convert search behavioural data into business analytics which allows the user to understand real-time consumer behaviours.

10.  Rezo.ai (India): Rezo.ai transforms contact centres with AI-powered automation and analytics that enable enterprises to personalize customer interactions in real time.

About the Big Bang Beauty Tech Innovation Program in SAPMENA

The Big Bang Beauty Tech Innovation Program is a regional open innovation competition that seeks to discover, support and nurture promising startups from across the South Asia Pacific, Middle East and North Africa region. These startups will be given the opportunity to further innovate their solutions in Beauty Tech for one of five challenge themes: Consumer Experience, Content, Media, New Commerce and Tech for Good.

The three regional semi-finals for the GCC, India and Southeast Asia culminate in an in-person SAPMENA Grand Finale in Singapore on 23 October 2024. Judges will comprise senior executives from L’Oréal and the program partners including Accenture, Google and Meta.

The top three SAPMENA Grand Finale winners will win a L’Oréal-funded commercial pilot opportunity and a year-long mentorship program with senior executives from L’Oréal and the program partners. Startups who prove successful pilots in SAPMENA could have the opportunity to work with L’Oréal globally. With L’Oréal SAPMENA as a launchpad, startups could tap into an extensive network of partners and market insights.

Home to 40% of the world’s population, the SAPMENA region covers 35 markets including many of the world’s fastest growing, most populous and young markets. Its consumers are young digital natives, having an average age of 28 years (compared to the global average of 33 years) and with more than 60% purchasing online every week. Innovative e-commerce and social commerce business models and technologies are needed to reach and engage these consumers, who are leading the beauty acceleration with diverse beauty ideals and a dynamic digital culture of on-demand, always-connected and hyper social. Across Southeast Asia, India and the Middle East, the combined startup ecosystem includes over 40,000 startups, with more than 180 unicorns (startups valued US$1 billion+) and a deal flow that reached US$20 billion last year.

For more information, visit http://bigbang.lorealsapmena.com/.

About L’Oréal South Asia Pacific, Middle East, and North Africa (SAPMENA) Zone

Home to 3 billion people and 40% of the world’s population, the South Asia Pacific, Middle East & North Africa (SAPMENA) Zone is a major growth engine for L’Oréal and a global talent hub. The SAPMENA Zone was formed in 2021 to drive focus on consumer needs and growth in many of the world’s most populous, young and fast-growing economies. Across 13 entities and 35 markets spanning New Zealand to Morocco, the L’Oréal SAPMENA Zone is reinventing beauty experiences for our consumers through a portfolio of over 30 international brands and game-changing Beauty Tech innovations. Our business model is built on responsible and sustainable growth, with commitments which focus on three key areas – the planet, the people and our products.

About L’Oréal

For 115 years, L’Oréal, the world’s leading beauty player, has devoted itself to fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future program, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2023 the Group generated sales amounting to 41.18 billion euros. With 20 research centres across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

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SOURCE L’Oréal

25 years of Interbrand data shows the financial consequence of focusing on performance marketing over long-term brand investmentFerrari (#62) and YouTube (#24) have seen the biggest brand value increase in this year’s Best Global Brands rankingApple (#1) remains at the top of the rankingNvidia (#36), Pandora (#91), Range Rover (#96) and Jordan (#99) enter the ranking for the first time. Uber (#78) and LG (#97) re-enter

NEW YORK , Oct. 10, 2024 /PRNewswire/ — Global brand consultancy Interbrand today launched its annual Best Global Brands ranking, marking a quarter of a century of brand valuation analysis.

Since 2000, Interbrand’s longitudinal study has tracked and reported on the value of the world’s biggest brands. A quarter century of analysis reveals that while performance marketing tactics can drive short-term financial gains, a lack of investment in long-term brand strategy has left the Best Global Brands with at least $3.5T of unrealized value. For this last year, this equates to $200B of lost revenue.

The cumulative value of the world’s most valuable brands has increased 3.4x since Interbrand first published its ranking (from $988B USD to $3.4T USD).

Gonzalo Brujó, Global CEO, Interbrand said: “If these brands had been treated and managed as strategic growth assets, then this table could be worth as much as $6.9T. The growth we see hides a staggering missed opportunity.”

Apple holds the top spot

Apple remains the most valuable brand, but its brand value has dropped for the first time in over two decades (-3%).

Commenting on Apple, Greg Silverman, Global Director of Brand Economics, Interbrand said: “While others rushed into AI, Apple took a more deliberate path to ensure its AI releases matched its values. This slower-moving act of leadership has put long-term trust ahead of short-term revenue gains. Following these brand moves, Apple’s stock has moved up 20% YTD and we anticipate that Apple’s value will increase in the 2025 rankings.”

Automotive brands dominate 2024

14 of the top 100 brands of 2024 are automotive, making up more than any other sector in the ranking. Three auto brands – Toyota (#6), Mercedes-Benz (#8) and BMW (#10) – appear in the top 10. However, not all auto brands have achieved such success. Tesla (#12) has one of this year’s largest declines in brand value (-9%). Meanwhile, Kia (#86), Hyundai (#30) and Toyota (#6) achieved double digit growth.

Top-tier luxury shows resilience through innovation

Luxury’s brand value continued an upward trajectory (+7%, up from + 6.5% last year), extending relevance by creating new consumer experiences and expanded digital touchpoints, demonstrating powerful creativity that taps into the human condition.

Ferrari (#62) captured this year’s spot as the top-rising brand, with +21% brand value growth. Louis Vuitton jumped three places (#14 to #11) with Hermès (#22) and Prada (#83) two of the biggest luxury brand risers this year, seeing brand value growth of +15% and +14% respectively.

Meet the 2024 new entrants

Nvidia (#36), Pandora (#91), Range Rover (#96), and Jordan (#99) are this year’s new entrants – and Jordan is the first personality brand to make it onto the table. Uber (#78) and LG (#97) re-enter.

Marketing landscape changes over 25 years

Over the past 25 years, Interbrand has observed a significant shift in the ways company boardrooms approach growth. C-Suites are prioritizing lower total investments with more immediate returns. Strategies that integrate long-term brand equity with short-term revenue gains are becoming the gold standard – but these strategies are still surprisingly rare.

Brujó said: “Performance tools, capabilities and systems have evolved over the past quarter century. As these tools shift, so do the pressures and expectations placed on brand and marketing leaders. Today, CMOs are expected to deliver greater revenue returns, in shorter time frames, for a lower investment.

“Many of the world’s most valuable brands are missing out on significant earning potential by over-investing in short-term gains. Our analysis shows these gains, when tied predominantly to short-term tactics, can undermine a company’s mid- to long-term revenue potential.”

Infographic: https://mma.prnewswire.com/media/2526717/Interbrand_Best_Global_Brands_2024_Infographic.jpg

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SOURCE Interbrand

Foreclosure Starts Down 10 Percent from Last Year;
Bank Repossessions Down 12 Percent from Last Year

IRVINE, Calif., Oct. 10, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its Q3 2024 U.S. Foreclosure Market Report, which shows a total of 87,108 U.S. properties with a foreclosure filings during the third quarter of 2024, down 2 percent from the previous quarter and down 13 percent from a year ago.

The report also shows a total of 29,668 U.S. properties with foreclosure filings in September 2024, down 2 percent from the previous month and down 19 percent from a year ago.

“While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend,” said Rob Barber, CEO of ATTOM. “Moving forward, we anticipate foreclosure levels will stay relatively low, but there could be localized increases in areas struggling with affordability or other market pressures.”

Foreclosure starts decrease nationwide
A total of 62,380 U.S. properties started the foreclosure process in Q3 2024, down less than 1 percent from the previous quarter and down 10 percent from a year ago.

States that had 1,000 or more foreclosures starts in Q3 2024 and saw the greatest annual decrease included, North Carolina (down 44 percent); Georgia (down 29 percent); Maryland (down 22 percent); New Jersey (down 20 percent); and South Carolina (down 19 percent).

U.S. Foreclosure Starts

Those major metros with a population of 200,000 or more that had the greatest number of foreclosures starts in Q3 2024 included, New York, New York (3,776 foreclosure starts); Chicago, Illinois (3,231 foreclosure starts); Los Angeles, CA (2,166 foreclosure starts); Miami, FL (2,142 foreclosure starts); and Houston, Texas (1,791 foreclosure starts).

Highest foreclosure rates in Illinois, Nevada, and Florida
Nationwide one in every 1,618 housing units had a foreclosure filing in Q3 2024. States with the highest foreclosure rates were Illinois (one in every 904 housing units with a foreclosure filing); Nevada (one in every 922 housing units); Florida (one in every 971 housing units); Delaware (one in every 1,060 housing units); and South Carolina (one in every 1,069 housing units).

Among 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in Q3 2024 were Lakeland, Florida (one in 610 housing units); Provo, Utah (one in every 647 housing units); Macon, Georgia (one in every 649 housing units); Columbia, South Carolina (one in every 663 housing units); and Atlantic City, New Jersey (one in every 766 housing units).

U.S. Historical Total Foreclosure Activity

Other major metros with a population of at least 1 million and foreclosure rates in the top 15 highest nationwide, include Chicago, Illinois (one in every 775 housing units); Las Vegas, Nevada (one in every 796 housing units); Cleveland, Ohio (one in every 819 housing units); Orlando, Florida (one in every 859 housing units); and Riverside, California (one in every 867 housing units).

Bank repossessions decrease 12 percent from last year
Lenders repossessed 8,795 U.S. properties through foreclosure (REO) in Q3 2024, up 1 percent from the previous quarter but down 12 percent from a year ago.

U.S. Completed Foreclosures (REOs)

Those states that had the greatest number of REOs in Q3 2024 were California (852 REOs); Pennsylvania (715 REOs); New York (670 REOs); Illinois (668 REOs); and Michigan (559 REOs).

Average time to foreclose increases 6 percent from last year
Properties foreclosed in Q3 2024 had been in the foreclosure process for an average of 815 days. This remains the same from the previous quarter but represents a 6 percent increase from the same time last year, continuing an upward trajectory since Q3 2023.

Average Days to Complete Foreclosure

States with the longest average foreclosure timelines for homes foreclosed in Q3 2024 were Louisiana (3,520 days); Hawaii (2,531 days); New York (2,087 days); Rhode Island (1,880 days); and Georgia (1,876 days).

States with the shortest average foreclosure timelines for homes foreclosed in Q3 2024 were New Hampshire (165 days); Minnesota (172 days); Texas (181 days); Michigan (189 days); and Montana (248 days).

September 2024 Foreclosure Activity High-Level Takeaways

Nationwide in September 2024, one in every 4,750 properties had a foreclosure filing.States with the highest foreclosure rates in September 2024 were Illinois (one in every 2,494 housing units with a foreclosure filing); Florida (one in every 2,670 housing units); Delaware (one in every 2,720 housing units); Nevada (one in every 2,735 housing units); and Indiana (one in every 3,159 housing units).19,763 U.S. properties started the foreclosure process in September 2024, down 5 percent from the previous month and down 21 percent from September 2023.Lenders completed the foreclosure process on 2,624 U.S. properties in September 2024, down 9 percent from the previous month and down 21 percent from September 2023.

Report methodology
The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions. 

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

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SOURCE ATTOM