L'Oreal acquires ModiFace, terms not disclosed
L'Oreal announced the acquisition of 100% of the Canadian company ModiFace, an internationally recognized leader in augmented reality and artificial intelligence applied to the beauty industry. This acquisition is in line with L'Oreal's digital acceleration strategy to provide the group's 34 international brands with the most innovative technologies in terms of services and beauty experience. ModiFace will be part of L'Oreal's Digital Services Factory, a dedicated network to design and develop new digital services for the group's brands. ModiFace will work in close collaboration with L'Oreal's Advanced Research. ModiFace will remain based in Toronto close to the University with which it has established many research partnerships.