On Friday, L’Oréal announced it had acquired ModiFace, a leading provider of augmented reality and artificial intelligence technology. The move is part of the company’s digital acceleration strategy to provide its 34 international brands with innovative beauty experience technologies.
Launched 11 years ago by Parham Aarabi, ModiFace was started with the goal of enabling users to virtually try-on beauty products, and has since developed advanced technologies of 3D virtual makeup, hair color and skin diagnosis services for more than 70 global brands.
“We are thrilled to welcome ModiFace to L’Oréal to become the heart of our digital services R&D,” said Lubomira Rochet, Chief Digital Officer of L’Oréal. “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.”
ModiFace will join L’Oréal’s Digital Services Factory, a dedicated network to design and develop new digital services for the group’s brands, and will work closely with L’Oréal’s Advanced Research team. The technology company employs nearly 70 engineers, researchers and scientists who have submitted more than 200 scientific publications and registered over 30 patents, according to a joint statement. They will remain based in Toronto close to the University with which ModiFace has established many research partnerships.
“L’Oréal’s acquisition of ModiFace provides an incredible opportunity to innovate on beautyaugmented reality (AR) and artificial intelligence (AI) at an unprecedented scale, the results of which will shape the beauty industry for the decades to come, said Parham Aarabi, Founder and CEO ofModiFace. “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.”
Financial terms of the deal were not disclosed.