L’Oreal acquires Modiface, a major AR beauty company

Summary:

  1. Given that many of these makeup companies have relied on Modiface to launch their AR apps, the acquisition gives L’Oreal a major leg up on its competitors who will now have to find another company that’s thinking about AR beauty.
  2. L’Oreal announced today that it has acquired Modiface, a company that’s had a hand in the creation of many custom augmented reality beauty apps, including those from Sephora and Estée Lauder.
  3. The partnership makes sense in that Modiface has already worked with L’Oreal multiple times, including on the launch of its Style My Hair mobile app, which lets users try on different hairstyles.
  4. L’Oreal didn’t disclose the amount spent, but it did tell Reuters that it now owns Modiface’s numerous patents that help users visualize makeup and hairstyles on themselves.
  5. Multiple brands have launched AR tools, and it’s easy to imagine the apps coming in handy when smart mirrors eventually become a thing.
  6. L’Oreal has launched multiple gadgets, too, like a UV nail sensor at CES this year.
  7. Meitu, a China-based company with an AR makeup app, is worth billions of dollars.
  8. For that app, Modiface manually annotated 22,000 facial images to create the experience.
  9. AR has become an important part of the beauty industry.

 

Sources: https://www.theverge.com/2018/3/16/17131260/loreal-modiface-acquire-makeup-ar-try-on

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