L'Oreal Acquires Canadian Augmented Reality Company ModiFace
March 16 2018 - 4:22AM
Dow Jones News
By Marc Bisbal Arias
L'Oreal SA (OR.FR) said Friday that it has acquired ModiFace, a
Canadian augmented reality and artificial intelligence company, for
an undisclosed amount.
The French company said that the acquisition is in line with its
digital acceleration strategy to provide its brands with innovative
technologies in terms of beauty experience.
ModiFace employs nearly 70 engineers and has developed 3-D
virtual makeup and skin-diagnosis technologies.
"ModiFace will support the reinvention of the beauty experience
around innovative services to help our customers discover, try and
choose products and brands," said Lubomira Rochet, chief digital
officer at L'Oreal.
ModiFace will be part of L'Oreal's digital services factory and
will continue to be based in Toronto, where it was founded 11 years
ago, L'Oreal said.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
March 16, 2018 04:07 ET (08:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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