L’Oréal recently acquired Modiface, a leading beauty tech company. ModiFace has nearly 70 engineers and 30 registered patents. Experts have disclosed that this addition to the company will give L’Oréal a major competitive edge. Apparently, the 11-year old company has been working with L’Oréal since 2014. The most recent collaboration to come out of the partnership was an app called Style My Hair, which allows users to try different hair colors in an augmented-reality. L’Oréal is taking digital services very seriously and they’ve formed a network called Digital Services Factory, which designs and develops new digital services for the company’s brand. However, L’Oréal isn’t the first company to utilize Modiface, or even AI. Modiface has also worked with brands such as Estee Lauder, Smashbox, and Coty. According to L’Oréal, all previously made commitments will be honored under this the new leadership.
Modiface isn’t the only major AI company to step into the beauty space, nor are they the only ones to create a frenzy in the beauty community with AI. Consumers haven’t been shy with sharing their love for apps like Face Tune, 360 Perfect, and YouCam Makeup (which all allow users to “perfect” their look using tools such as a skin softener and eyelashes). While those apps and tools are fun for looking picture perfect, one of the most praised technology driven tools that is used in retail is color matchers. Rather than having to try countless foundations on the skin to see which color is truly yours, a machine does it for you. It can also tell consumers which color products would work best for them best on their complexion color. It changes the game for how people shop for make-up. The innovation will continue as companies launch with an entire technology backgrounds. One such enterprise is Curology, a skincare company that creates personalized products for each of its customers.
These new developments in the industry have certainly shaped the way beauty consumers shop. Many customers, and certainly the ones that look for apps and tools to create a flawless look, have inspired a full-coverage explosion in the market. Whereas brands such as Glossier, an online brand, have created a lifestyle for minimal make-up with a “skin first” mantra. What we have been gifted from the partnership of technology and beauty is an endless amount of products and options. The industry has continued to grow because technology continues to feed it.
With AI making its way into the $500 billion-dollar beauty industry, there is no telling what will come next.