In March 2018, it acquired ModiFace, a company that builds custom augmented reality applications for makeup brands. ModiFace applications such as Virtual Makeover and Hair Color let users try different makeup and hairstyles in real time.
Personalization is another way L'Oréal has gathered consumer data. Through a tech incubator, L'Oréal has created"Le Teint Particulier" for Lancôme, which creates foundation matched to people's skin tone, and"," a wearable device that measures UV exposure. The company says it now has more than 1.3 billion first-party data points.
"Every piece of data is meaningless if there is no consent, and if there's no value exchange," she said."When you take a skincare diagnostic test on my platform, for example, I get to know a lot about you in terms of your concerns and signs of aging, which is very valuable information not only for me but also for you. Having these services lets me get to know you and put the right products in front of you versus targeting you with products that mean nothing to you.
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Source: CNBC - 🏆 12. / 72 Read more »