L’Oréal to acquire hi-tech ModiFace as ‘augmented reality’ for make-up grows
Paris — L’Oréal is set to acquire the Canadian beauty tech company ModiFace, gaining tools for customers to test make-up and lipstick online. ModiFace’s augmented reality technology has been widely adopted by cosmetics makers since the company was founded in 2006 and helps power the mobile apps of LVMH’s Sephora and Estée Lauder. The Maybelline maker has built a stable of more than 30 of the world’s biggest beauty brands by acquiring names such as Kiehl’s, but this is the first time the company has added a tech company to its roster. L’Oréal had previously tested augmented reality with projects including the "Makeup Genius" app, which has been downloaded more than 20-million times. L’Oréal will acquire ModiFace, which has more than 70 employees, for an undisclosed sum, the Paris-based cosmetics maker said in a statement Friday. Modiface’s software allows users to see their faces transformed in real time as they experiment combining blushes and eye shadow, turning smartphone cameras ...
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