L’Oreal acquires ModiFace augmented reality app creator
It’s a company that’s seen strong success in cornering the market for augmented reality tech for the beauty industry.
Indeed, ModiFace’s artificial intelligence (AI) technology, which is used for face and hair tracking, was selected by Apple as one of the App Store Best for 2017.
The beauty tech player also boosted conversions by 100% for Clinique, Estee Lauder, and other brands in 2017.
This acquisition is in line with L'Oréal’s digital acceleration strategy to provide the group’s 34 international brands with the most innovative technologies in terms of services and beauty experience, the company said in a statement.
What is ModiFace?
The app tech company was founded by Parham Aarabi eleven years ago in Toronto, and ModiFace has developed advanced technologies of 3D virtual reality applications for the beauty industry.
Its capabilities can be applied to make-up, color and skin diagnosis services using proprietary tech which tracks facial features and color, and is used by several of the major beauty brands.
ModiFace employs nearly 70 engineers, researchers and scientists who have submitted more than 200 scientific publications and registered over thirty patents.
The new ‘heart’ of digital for L’Oréal
ModiFace will be part of L'Oréal's Digital Services Factory, a dedicated network to design and develop new digital services for the group's brands.
It is set to work in close collaboration with L'Oréal's Advanced Research, though remain based in Toronto close to the University with which it has established many research partnerships.
Lubomira Rochet, Chief Digital Officer of L’Oréal, described how ModiFace will take a central position in the global beauty giant’s digital offering.
“We are thrilled to welcome ModiFace to L’Oréal to become the heart of our digital services R&D,” she confirmed in a statement.
“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.”