L'Oreal Buys Beauty AR App Maker
L'Oreal has purchased Modiface, an Augmented Reality beauty company, that has developed both mobile and desktop Augmented Reality apps for many of the top companies in the beauty industry over the years. Modiface's AR beauty technology is widely considered to be industry leading and has recently been applied to powering the makeup filters provided by Samsung Galaxy S9's Bixby Vision. Modiface will continue to finish out its contracts with other companies but will responsible for creating new digital experiences for L'Oreal's many brands. The cosmetics industry is one of many industries that has been seriously investing in digital applications as companies seek to provide customers with more innovative ways to test and visualize their products.
L'Oreal and Modiface partnered together in the past to develop L'Oreal's very own "Style My Hair" application which allowed customers to see visualize different hair colors on themselves. L'Oreal no doubt expects the benefits of Modiface's AR technology to help boost its marketing efforts and increase online sales across many of its 30 plus brands. With this purchase the company continues to display how seriously it believes digital is key to the future of its company - L'Oreal spends close to 40% of its marketing budget on digital channels.
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