A few days ago, Shiseido (China) Investment Co., Ltd. added an investment enterprise-Xiamen Ziyue Equity Investment Partnership (hereinafter referred to as "Xiamen Ziyue"). It is understood that the registered capital of the company is 501 million yuan, and its business scope includes engaging in equity investment, investment management, asset management and other activities with private funds. It is noteworthy that on May 8th, L ‘Oré al Group officially announced the establishment of its first investment company in China market-Shanghai Meicifang Investment Co., Ltd. (hereinafter referred to as "Meidifang Investment") with a registered capital of 100 million yuan.
Beauty cosmetics technology leads the new wave
Although the L ‘Oré al Group and Shiseido have not disclosed the investment plans and targets, L ‘Oré al once said: "The strategic transformation of beauty technology is very important to us." According to official website, the beauty technology strategy refers to making changes in product innovation, omni-channel marketing, and enhancing enterprise agility by using technology and digital innovation. In addition, Bai Pu Le, Chief Financial Officer of L ‘Oré al Group, said that China is strategically important to L ‘Oré al Group, which is not only the key growth engine of the Group, but also one of the sources of inspiration for leading future innovation.
With the rapid development of online consumption channels and the impact of the epidemic on physical channels, AI/AR virtual makeup test, smart beauty mirror, smart skin tester, 3D printed lipstick and other products have attracted the curiosity of many consumers.
In 2014, L ‘Oré al launched the virtual makeup mirror Makeup Genius. With the help of augmented reality technology, users can see the makeup effect after using the product before buying it. This is the first test of AR technology in the beauty industry. Subsequently, major beauty brands at home and abroad began to try "beauty+technology". Shiseido has developed the invisible VR project "caico", which makes use of the interactive features brought by virtual reality, so that consumers can get the immersive experience of product interaction when they can’t directly touch the product, for example, they can smell the smell directly and satisfy consumers’ understanding of product information. In addition, at the 2020 China International Import Expo(CIIE), Estee Lauder launched an expert skin diagnostic instrument, which can make a comprehensive skin diagnosis for consumers with the help of AI technology.
It is worth noting that before the "Double Eleven" in 2019, Alibaba Tmall Beauty Channel launched the AR beauty function. The data shows that after trying AR beauty cosmetics, the customer conversion rate of makeup testers has increased by four times, compared with only two times that of pictures and videos. According to the Foresight Report on the Application of Science and Technology in Beauty Industry in 2025, under the traditional format, the beauty industry in China will develop steadily and reach a market scale of 620.35 billion yuan in 2025. If there is technology empowerment, the industry scale will reach about 1 trillion yuan in 2025.
Jean-Paul Agon, chairman of L ‘Oré al Group, once said that digital technology is compatible with the beauty business. "Beauty products are very expressive, and consumers are also very young. They like to take selfies with their mobile phones, broadcast live, virtual hair dyeing and color testing. These new services that incorporate technology are very suitable in the field of beauty." He also said that the L ‘Oré al Group’s digital budget is growing rapidly, and "digitalization" has become one of the key words of the Group’s development.
Collision with technology, the "magic weapon" for beauty companies?
With the increasing penetration of digital and virtual technology into every scene of daily life, beauty technology is gradually becoming the "magic weapon" of the industry.
In 2019, Neutrogena, a skin care brand under Johnson & Johnson Group, released a miniature 3D mask printer-Mask ID. According to reports, this mask printer uses the function of 3D camera, and users can create an accurate multi-dimensional face model by taking selfies. The 3D printing process can print nutrients on the precise area of the mask, providing an accurate skin care experience.
In 2021, Kose also brought a "customized mask" to China International Import Expo(CIIE). By scanning consumers’ faces, the customized mask can be printed on the spot, and different brands of lotions can be adjusted and matched according to everyone’s different needs, so as to achieve differentiated and fine services. At the same time, Kose also launched a Nail Printer jointly developed with CASIO. This device can identify the shape, bending degree, outline and other information of nails and directly print out the fitted nails. Consumers just need to put their fingers into the machine, choose a pattern they like, and press the button, and the machine can spray the pattern on their nails.
YSL, a brand of L ‘Oré al Group, displayed PERSO, the world’s first concept product of customized cosmetics for home use, at China International Import Expo(CIIE). Users can mix lipstick colors according to their own preferences. Today, PERSO has been commercialized, and the "YSL ROUGE SUR MESURE" Saint Laurent beauty cosmetics "lipstick printer" is officially on sale. It is reported that the price of "machine+two-color system" products is 3910 yuan.
Nowadays, the collision between beauty and new technologies is becoming more and more fierce, and AR/VR, AI and 3D printing technologies are more widely used. Improving the experience and meeting the individual needs of consumers have become areas that beauty companies are actively exploring.
Beijing News Shell Finance reporter Yu Menger
Proofread Chen Biyan
IC photo with closed picture