L'Oreal just made a major tech move
L'Oreal has acquired augmented reality firm ModiFace as it looks to roll out more digital services.
ModiFace specializes in augmented reality and artificial intelligence and has worked with countless brands and retailers as shoppers increasingly turn to digital when buying beauty products.
Founded by Parham Aarabi eleven years ago in Toronto, ModiFace has developed advanced technologies of 3D virtual make-up, color and skin diagnosis services using proprietary know-how which track facial features and color, and are used by nearly all the major beauty brands. ModiFace employs nearly 70 engineers, researchers and scientists who have submitted more than 200 scientific publications and registered over thirty patents.
"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. 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."
ModiFace will be part of L'Oréal's Digital Services Factory, a dedicated network to design and develop new digital services for the group's brands. ModiFace will work in close collaboration with L'Oréal's Advanced Research, and benefit from an unrivaled century-old expertise in beauty. ModiFace will remain based in Toronto close to the University with which it has established many research partnerships.
"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," said Aarabi, Founder and CEO of ModiFace.