L’Oréal drives future of internet with next-gen virtual beauty economy
13 Jun 2022 --- L’Oréal is exploring the internet-driven beauty of web3 with the emerging metaverse to reach a new generation of customers across its haircare, active cosmetics and mass consumer portfolio. It has been noted to enable web2 services such as skin diagnosis, teleconsultation and virtual try-on and is now taking a step toward the future of the internet.
“The future of beauty is physical, digital and virtual. Therefore, while keeping our feet grounded in web2 acceleration, we are exploring web3 with a novel on-chain beauty approach,” says Asmita Dubey, chief digital and marketing officer at L’Oréal.
“We have always taken bold steps to pioneer beauty tech innovations, and we aim to explore emerging technologies and channels to engage a new generation of beauty consumers,” adds Nicolas Hieronimus, CEO at L’Oréal.
“L’Oréal’s purpose is to create beauty that moves the world, embracing technology as a catalyst for transformation across our business.”
The ‘on-chain beauty’ of web3 signifies that beauty consumers and creators will converge on emerging platforms to participate in the new beauty economy, says the company.
Blockchain-based beauty
Various L’Oréal brands are exploring web3 to better engage with communities and offer unique beauty experiences. L’Oréal is bringing together artists, communities and tech platforms such as Arianee and People of Crypto.
“At L’Oréal, we believe beauty lies at the intersection of science and technology and that these powerful forces will shape the future of beauty,” notes Barbara Lavernos, deputy CEO, research, innovation and technology at L’Oréal.
The company has also partnered with OpenSea, a peer-to-peer marketplace for NFTs, allowing virtual beauty experiences and collectibles, in brand-led environments, on the platform.
The future of beauty is physical, digital and virtual, says Dubey. Credit: L’Oréal.
Mugler will celebrate its ’Angel’ fragrance anniversary by dropping its first NFT, featuring a crypto-art collection of 3D angels designed by a digital artist. “Mugler is elevating on-chain loyalty with these collectible NFTs,” the company underscores.
Yves Saint Laurent Beauté has reportedly opened 10,000 Golden Block NFTs via YSL Beauty’s Wallet that can unlock specific experiences and utilities.
Additionally, NYX Professional Makeup aims to help 3D beauty creators by wanting to become the first-ever decentralized record label for creators in Web3 and “redefining beauty” in the metaverse.
Personalization in fragrance and lips
In partnership with Emotiv, L’Oréal harnessed neurotech and algorithms to create personalized fragrances.
The Yves Saint Laurent Beauté Scent-Sation allows consumers to delve into a multi-sensor, electroencephalography (EEG)-based headset. The headset detects the emotional responses to different scent families exposed to the wearer.
The tech then analyzes the responses and makes product recommendations that are the most suitable for the customer.
Yves Saint Laurent Beauté Rouge Sur Mesure also offers lip personalization. It is powered by the company’s Perso technology which is AI-enabled. The device analyzes thousands of customized lip color possibilities that match the wearer’s skin tone or outfit. The customized shade is then produced within seconds.
L’Oréal also made advances in personalization in January with its AI-powered hair dye technology.
L’Oréal is exploring the internet-driven beauty of web3 with the emerging metaverse.
Advances in retail
Lancôme is noted to offer products and services across the physical, digital and virtual consumer touchpoints.
L’Oréal’s Absolue Dual-LED Youth Treatment uses LED light therapy, dispensing luxury formula onto the skin to reduce fine lines and wrinkles. It is also an in-store device.
Additionally, Lancôme Shade Finder accurately matches the foundation with the skin. It reportedly detects up to 22,500 skin shades, which can be found in-store and online.
Lancôme Skin Screen is an in-store skin diagnostic that uses AI algorithms to detect over 13 different clinical signs. The AI algorithms have been trained using more than 15,000 pictures.
Focusing on professional salons, L’Oréal Water Saver uses rocket engine technology to enable an efficient hair washing experience while also reducing water consumption by 61% compared to standard methods, shares the company.
Digital-first
Dubey comments that the company has been digital-first in all its endeavors.
“Our aim is to enrich the consumer journey, which continues to evolve from O+O (offline + online) to O+O+O (online + offline + on-chain),” she continues.
L’Oréal’s SkinCeuticals Pro 1:1 offers dermatological advice to consumers via private, one-on-one video consultation. The professional medical aesthetician will also analyze the customer’s skincare needs and suggest a skincare routine.
L’Oréal took steps toward digital skin technology in January with its partnership with Verily, to advance skin research, develop products and provide new tech services.
“By combining our century-long scientific knowledge and data expertise with cutting-edge physical and digital technology innovations, we are reinventing and augmenting beauty experiences to meet the unmet desires, dreams and aspirations of our consumers all around the world,” concludes Lavernos.
Edited by Venya Patel
