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L’Oréal Acquires Tech Startup Modiface For Improves AI, AR Services

June 4, 2018: 12:00 AM EST
L’Oréal has acquired its first technology startup, Modiface, for an undisclosed sum to help the group improve how it incorporates advanced technology into its brand offerings. Lubomira Rochet, L’Oréal’s chief digital officer, underscored the importance of global brands adapting to digital developments in order to survive but also said that L’Oréal’s strategy is to determine the most appropriate technologies for its brands and scale them across the group’s websites and stores, but in a way that works for local conditions. It is looking to develop technologies via a number of routes, including acquisitions; Station-F, a startup campus in France; and the Founders Factory, a digital accelerator based in London.[Image Credit: © L’Oréal]
Kitty Knowles, "L'Oréal Snaps Up Startups: AR Beauty Is Just The Beginning Says CDO", Forbes.com, June 04, 2018, © Forbes Media LLC
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