L’Oreal Acquires Modiface
L’Oreal, Paris, has acquired Toronto-based ModiFace, an augmented reality company and collaborator in the beauty industry. The acquisition is in line with L’Oreal’s digital acceleration strategy to provide its 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 digital offerings for the group’s brands. ModiFace will work in close collaboration with L’Oreal’s advanced research but remain based in Toronto where it has established many research partnerships.