France based cosmetic company, L’Oreal has officially announced that the company is acquiring Modiface, a company had a hand in the creation of many customs augmented reality beauty apps, including those from Sephora and Estée Lauder. The cosmetic company has not yet disclosed the amount spent, but it did mentioned by the Reuters that it now owns Modiface’s numerous patents that help their customers by visualizing makeup and hairstyles for themselves. The acquisition makes sense in that Modiface has already worked with L’Oreal multiple times on the launch of its Style My Hair mobile app, which allows the users to try different hairstyles. The app created by Modiface manually annotated 22,000 facial images to create the experience.
Augmented Reality has become a crucial part of the beauty industry. Meitu, a China-based company with an Augmented Reality makeup app, is worth billions of dollars because of its upgraded technology and better interface. Multiple brands in the beauty industry have launched Augmented Reality tools, and it’s easy to imagine the apps coming in handy when smart mirrors eventually become a thing. L’Oreal has launched multiple gadgets, like an Ultraviolet nail sensor at CES event this year. According to the reports, many of these makeup and beauty companies have relied on Modiface to launch their Augmented Reality apps, the acquisition provides L’Oreal a major leg up on its competitors who will now have to find another company thinking about Augmented Reality beauty.
On a telephonic interview, Lubomira Rochet, a Chief digital officer of L’Oreal mentioned that “The way our consumers are searching for, discovering and trying products is really changing, and we wanted to incorporate that more deeply,”