Now, this is one for those interested in the beauty industry. L’Oreal is set to acquire the Canadian beauty tech company ModiFace. This is done in an attempt to gain tools set to allow customers to test make-up and lipstick online.
This sort of augmented reality technology has been quite the talk on the cosmetic industry since the company was founded in 2006. According to Bloomberg, L’Oreal will acquire ModiFace, which has more than 70 employees, for an undisclosed sum.
This arrangement is a first in the cosmetic industry. Mostly because this is the first time a tech company is added to the roster of the beauty giant. This also isn’t a shot in the dark as L’Oreal also had dabbled with AR projects such as the “Makeup Genius” app.
Now, let’s talk about the software that ModiFace offers. This software allows users to see their faces transformed in real time as they experiment combining blushes and eyeshadow. Essentially, it allows the smartphone camera to be a “Mirror” of sorts.
“The way our consumers are searching for, discovering and trying products is really changing, and we wanted to incorporate that more deeply,” L’Oreal Chief Digital Officer Lubomira Rochet said in a phone interview.
L’Oreal and ModiFace’s first project is called “Style My Hair”. It’s a flash app that allows users to upload a picture of their face and style it with different colors and even hairdos. This app also allows for people to search the nearest salon to make themselves beautiful.
As for what L’Oreal is going to do in the near future. They are interested in making sure its brands like Lancome and YSL all have the tools to provide digital experiences to consumers, Rochet said.
It’s incredible that such a company became very open to the way of technology. It also shows how the introduction of electronic commerce has shifted the priorities of industry giants. Let’s keep hoping for the best for any companies that adapt to this model as well.