It has just been announced that L’Oréal has acquired the Canadian company ModiFace; the agency known as the leading provider of Augmented Reality (AR) technology for the beauty industry.
In accordance with its digital acceleration strategy, L’Oréal aims to provide the most innovative technologies in terms of services and beauty experience for its brands with the new acquistion of ModiFace.
Creating augmented reality technology for beauty brands, ModiFace’s patented technology includes live 3D makeup simulation, live anti-aging/skin-care simulation, and hair style and color simulation.
Lubomira Rochet, Chief Digital Officer of L’Oréal said:
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 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.
Parham Aarabi, Founder and CEO of ModiFace, said:
L’Oréal’s acquisition of ModiFace provides an incredible opportunity to innovate on beauty augmented reality (AR) and artifical intelligence (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.
Recently, L’Oréal Professionnel has launched an innovative ‘Style My Hair’ App that allows users to see a 3D and real time visual of how different colour services would look on their own hair. The app has been created using ModiFace’s AR technology.
ModiFace will remain based in Toronto and will be a part of L’Oréal’s Digital Services Factory.