L’Oréal has just announced that it has purchased Modiface, a company with many applications in augmented reality for beauty and makeup, including those used by its competitors.
L’Oréal has acquired Modiface, the beauty applications start-up in AR
For make-up and cosmetics companies, beauty, hair and make-up applications in augmented reality are a real bargain. A practical application war is currently being waged by the main players. L’Oréal has just struck a significant blow by acquiring Modiface, the start-up behind many beauty applications in AR.
L’Oréal acquires Modiface and positions itself in AR beauty applications
So, Augmented reality is taking an essential place in the beauty industry. Meitu, a Chinese make-up application in AR, now has an estimated multi-billion dollar value. Different cosmetic and makeup brands have launched their app, a kind of intelligent mirror, allowing to visualize different types of make-up, hairstyles, and accessories. Many companies, such as Sephora or Estée Lauder, have gone through Modiface to develop their augmented reality tool.
By buying Modiface, L’Oréal is, therefore, getting a head start and, above all, is putting its competitors in difficulty. So, that is the French industrial group, now the international leader in the cosmetics industry. They did not wish to reveal the amount of the transaction for the purchase of Modiface.
The company, 33% owned by the Bettencourt family, was particularly interested in the patents filed by Modiface, which it now holds. These patents are of great importance for beauty augmented reality applications.