French beauty retailer L’Oréal announced its acquisition of ModiFace, a Canadian company that creates augmented reality (AR) and artificial intelligence (AI) solutions applied to the beauty industry. 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.
ModiFace will work in close collaboration with L’Oréal’s Advanced Research. It has developed advanced technologies of 3D virtual make-up, colour and skin diagnosis services using proprietary know-how that tracks facial features and colour, and are used by nearly all the major beauty brands.
Commenting on the acquisition, Lubomira Rochet, chief digital officer of L’Oréal, “We are thrilled to welcome ModiFace to L’Oréal to become the heart of our digital services R&D. 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 choose 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.”
“L’Oréal’s acquisition of ModiFace provides an incredible opportunity to innovate on beauty AR and AI at an unprecedented scale, the results of which will shape the beauty industry for the decades to come. 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,” adds Parham Aarabi, founder and CEO of ModiFace.
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