By Jason Chow

PARIS--L'Oreal SA (OR.FR) and Nestle SA (NESN.VX) announced Thursday it would end its Inneov joint venture, a project to develop and sell nutritional beauty supplements, in the first quarter of 2015.

The companies said in a statement that the co-owned brand, which produced supplements for skin and hair beauty that were sold in pharmacies, "has not met the development expected by both partners," having just posted revenues of 52 million euros ($64.9 million) in 2013.

Both firms added they would re-assign the 91 employees currently employed at Innéov.

Write to Jason Chow at Jason.Chow@wsj.com

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