Beauty behemoth L’Oréal announced on Friday the 100% acquisition of Canadian AR/AI company ModiFace. Although the buyout amount was not disclosed, the move will accelerate L’Oréal’s digital strategy by providing the group’s 34 international brands with a virtual try-it-before-you-buy-it consumer experience. “We are thrilled to welcome ModiFace to L’Oréal to become the heart of our digital services R&D”, expressed Lubomira Rochet, Chief Digital Officer of L’Oréal. “With its world-class team, technologies and sustained track record in terms of beauty tech innovations, ModiFace will support the reinvention of the beauty experience around innovative services to help our customers discover, try and chose products and brands. We at L’Oréal and ModiFace want to pioneer this new page of the beauty industry and serve our customers with innovative services and experiences.”
Now that ModiFace is completely under the L’Oréal beauty arch, it’s group of more than 70 engineers, researchers, and scientists can continue to expand it’s 3D and facial recognition technology. “L’Oréal’s acquisition of ModiFace provides an incredible opportunity to innovate on beauty augmented reality (AR) and artificial intelligence (AI) at an unprecedented scale, the results of which will shape the beauty industry for the decades to come”, noted Parham Aarabi, Founder and CEO of ModiFace. “Our entire team and I are extremely excited to be joining the L’Oréal family, and look forward to the AR/AI-enabled future that we will create together.”
Prior to the acquisition, L’Oréal l and ModiFace partnered to create the wildly popular Style My Hair mobile app. The app allowed users to try different hairstyles, colors, and cuts on a personal uploaded photo. This way, users could see if a particular style was a hair-do or a hair-don’t! The app was a fun and functional fusion of technology and beauty!
ModiFace will now be part of L’Oréal’s Digital Services Factory and work in collaboration with L’Oreal’s Advanced Research group to create immersive consumer beauty experiences. The company will remain in Toronto and continue it’s research partnerships there. Without a doubt, technology is contouring and highlighting the way consumers experience beauty! C’est magnifique L’Oréal!