PARIS — L’Oréal delves deeper into tech with the acquisition of ModiFace, the Canadian provider of augmented reality and artificial intelligence technology for the beauty industry.
Financial terms of the deal, announced on Friday, were not disclosed.
“This acquisition is in line with L’Oréal’s digital acceleration strategy to provide the group’s 34 international brands with the most innovative technologies in terms of services and beauty experience,” the beauty giant said in a statement.
Parham Aarabi founded ModiFace 11 years ago in Toronto, Canada, and subsequently the company has created advanced technologies of 3D virtual makeup, color and skin diagnosis services that use proprietary know-how to track facial features and color. The technology is used by almost all major beauty brands, according to L’Oréal.
“L’Oréal’s aquisition of ModiFace provides an incredible opportunity to innovate on beauty augmented reality and artificial intelligence at an unprecedented scale, the results of which will shape the beauty industry for the decades to come,” Aarabi said.
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Lubomira Rochet, chief digital officer of L’Oréal, said that ModiFace will “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 choose 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 is to become part of L’Oréal’s Digital Services Factory, a network to create and develop new digital services for the company’s brands. ModiFace, which will remain Toronto-based, is to collaborate closely with L’Oréal’s Advanced Research.
ModiFace counts almost 70 engineers, researchers and scientists on staff, who have registered more than 30 patents and published over 200 scientific papers.