Alibaba inks AR Beauty deal with Perfect Corp.
Chinese e-commerce giant Alibaba Group has announced a new global strategic partnership with Perfect Corp., which will see the AR beauty experience developer’s YouCam Makeup cosmetics try-on technology integrated into the Taobao and Tmall platforms.
The deal between the two companies seeks to increase consumer engagement and boost sales conversion on Alibaba’s Taobao and Tmall by offering customers the chance to digitally try on make-up products before buying them.
Perfect Corp.’s technology currently allows users to try on lipsticks, blush, eyeliner, eyelashes, eyeshadow and complete makeup looks.
“In the next three years, innovative technology will be the key to driving increased sales. Especially in the beauty industry, technology will bring the biggest change for young generations to purchase products,” said Mike Hu, general manager of Tmall FMCG at the Alibaba Group, in a release.
Founded by Alice Chang in 2015, Perfect Corp. has previously signed contracts with big-name beauty brands like Maybelline and major retailers such as Target. Its standalone YouCam Makeup app was named “Editors’ Choice” by Google Play last year and boasts over 750 million downloads around the world.
“China is one of the major markets in the beauty industry. The groundbreaking strategic partnership with Alibaba group has positioned Perfect Corp.’s Beauty SaaS solutions as the recognized solution for global brands in digital transformation,” explained Chang, who is also Perfect Corp.’s CEO.
Indeed, with the Chinese cosmetics market positioned for strong growth, it seems that the partnership between the two companies could not have come at a better time. According to data from GlobalData, sales of cosmetics and toiletries in China increased by 8% from $68.05 billion in 2017 to $73.52 billion in 2018, and this figure is expected to hit $100.30 billion by 2022.
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