Shiseido

The intersection of beauty and technology to deliver hyper-personalized products.

Beauty Tech

Taiwan-based Perfect Corp provides subscription-based, business-to-business (B2B) technology solutions for the beauty industry using artificial intelligence (AI), machine learning, augmented reality (AR), and facial recognition technologies. The company’s “YouCam” solution involves skin analysis, virtual try-ons and shade-finder functions which are available online as well as in-store. Perfect Corp has also introduced several supplementary products to YouCam, such as “YouCam Video” (introduced in January 2021) built on its patented AR based “AgileFace” tracking technology that allows users to edit videos by (virtually) applying makeup, and “YouCam Tutorial” (introduced in September 2021), a software-as-a-service (SaaS) tool that assists beauty brands and makeup artists carry out virtual makeup tutorials for customers.Perfect Corp also offers a skin scanner app for medspas, clinics, and salons, named the “Skincare Pro" app. In <a href="https://sp-edge.com/updates/27692">March 2024 </a>, Perfect Corp unveiled a new cloud-based Customer Relationship Management system (CRM) integration to Skincare Pro app to allow medspas and clinics to manage customer profiles, track treatment progress, improve communication capabilities, and provide tailored recommendations while maintaining Health Insurance Portability and Accountability Act (HIPAA) compliance.As of March 2022, Perfect Corp’s had 44 granted patents for its proprietary AR and AI technologies. The company’s AR technology uses real-time high-definition facial 3D live mesh with 3,900 meshes and over 200 facial landmark tracking points.The company’s product portfolio also includes a contactless virtual try-on feature for face and nails, which was introduced in response to increasing demand for such solutions due to the Covid-19 pandemic. This solution uses voice recognition and gesture control to allow the customer to navigate using voice commands. In July 2022 <a href="https://sp-edge.com/updates/11774?industryIds=39">AI Personality Finder </a>was introduced which identifies key personality traits of customers to provide them with personalized product recommendations for beauty, fashion, and fragrance products. In November 2023, the company announced the launch of its <a href="https://sp-edge.com/updates/24522">AI technologies, </a>including Beauty AI, Skin AI, Fashion AI solutions, and GenAI Innovations, aiming to improve accuracy for textures and effects, real-time skin analysis with personalized product recommendations. The company also offers hair care-related solutions including an AI-powered <a href="https://sp-edge.com/updates/30072">hair type analysis tool</a>, a virtual hair color simulator, and a GenAI-powered hairstyling tool.Key customers and partnershipsAs of February 2024, Perfect Corp had <a href="https://www.perfectcorp.com/business/news/gen-ai-global-trend-report">over 600 </a>brand partners with over one billion downloads of its app globally. The company’s YouCam technology is used by major beauty brands such as L’Oreal, Lancome, Decorté, <a href="https://sp-edge.com/updates/7890?industryIds=39">MAC Cosmetics </a>, and Neutrogena as well as natural beauty brands such as 100% Pure Cosmetics and <a href="https://sp-edge.com/updates/10944?industryIds=39">Bakel. </a>As of February 2024, Perfect Corp had virtual try-on partnerships with <a href="https://www.perfectcorp.com/business/blog/success-story/an-inside-look-at-digital-innovation-at-the-estee-lauder-companies">Estée Lauder </a>, with over 8,000 YouCam-powered devices in stores across 45 global markets (May 2022), and <a href="https://www.beautypackaging.com/contents/view_breaking-news/2021-08-16/fenty-beauty-introduces-virtual-try-on-capability/">Fenty Beauty </a>(August 2021). The company also has a partnership with Starboard Group, a vacation retail curator, offer an AI-powered skincare product recommendation tool across Starboard's global fleet (<a href="https://sp-edge.com/updates/34341">October 2024</a>). The company also had a multi-channel agreement with the American multinational beauty company COTY (September 2021) to provide virtual try-ons, online skin diagnostics, and data-driven personalization for Coty’s portfolio of brands including CoverGirl, Sally Hansen, and Philosophy.Perfect Corp generated revenue of USD 47.3 million and incurred and an adjusted EBITDA of USD 3.1 million during the year ended December 2022. In March 2022 the company announced that it has entered into a definitive agreement to merge with Provident Acquisition Corp., a special purpose acquisition company (SPAC), in a transaction that sets Perfect Corp.’s enterprise value at ~USD 1 billion. Upon the completion of the transaction in Q3 2022, receiving USD 335 million in gross proceeds, the combined company was renamed Perfect Corp. and was listed on the Nasdaq under the ticker “PERF.”

Technologies bringing about a new reality

Extended Reality

<div>
 
 Taiwan-based Perfect Corp provides business-to-business (B2B) technology solutions for the beauty industry using AI, ML, AR, and facial recognition technologies.&nbsp;
 
 
 The company&rsquo;s &ldquo;YouCam&rdquo; solution involves skin analysis, virtual try-ons, and shade-finder functions that are available online as well as in store. Perfect Corp has also introduced several supplementary products to YouCam, such as &ldquo;YouCam Video&rdquo; (introduced in January 2021) built on its patented AR-based &ldquo;AgileFace&rdquo; tracking technology that allows users to edit videos by (virtually) applying makeup, and &ldquo;YouCam Tutorial&rdquo; (introduced in September 2021), a software-as-a-service (SaaS) tool that assists beauty brands and makeup artists carry out virtual makeup tutorials for customers.&nbsp;&nbsp;
 
 
 In July 2023, the company expanded its suite of AR-powered jewelry solutions, allowing brands to create realistic earrings for virtual try-on without the use of expensive 3D modeling techniques. Previously, in May 2023, Perfect Corp improved its hand sizing tech for fingers and wrists, helping to match consumers with their correct size for rings, bracelets, and watches. The company also launched a 3D Viewer and 3D authoring tool for AR rings and watches in March 2023, allowing jewelry and watch brands to import 3D model CAD files, preview 3D renders and streamline the creation of AR content.
 
 
 The company&rsquo;s product portfolio also includes a contactless virtual try-on feature for face and nails, which was introduced in response to increasing demand for such solutions due to the Covid-19 pandemic. This solution uses voice recognition and gesture control to allow the customer to navigate using voice commands.&nbsp;
 
 
 Perfect Corp generates revenue via monthly subscriptions, offering two plans, Essential (USD 399) and Premium (USD 799), as well as custom pricing for larger enterprises.
 
 
 Key customers and partnerships
 
 
 As of July 2023, 400 enterprises used the company&rsquo;s solutions including major beauty brands such as L&rsquo;Oreal, Lancome, Decort&eacute;, and MAC Cosmetics.
 
 
 
 In 
 <a href="https://sp-edge.com/updates/20171">
 July 2023
 </a>
 , the company partnered with global travel retailer Dufry to provide in-store and web makeup virtual try-on for products from 15 brands. Previous partnerships include that with Warner Bros. for a collection of AR movie effects for The Flash in June 2023.
 
 
 Funding and financials
 
 
 In March 2022, the company announced that it entered a definitive agreement to merge with Provident Acquisition Corp., a special-purpose acquisition company (SPAC), in a transaction that set Perfect Corp.&rsquo;s enterprise value at ~USD 1 billion. Upon the completion of the transaction in Q3 2022, receiving USD 335 million in gross proceeds, the combined company was to be renamed Perfect Corp. and listed on the Nasdaq under the ticker &ldquo;PERF.&rdquo;
 
 
 Competitors:
 None. (Perfect Corp is the only startup under our coverage that focuses on providing AR solutions for the personalized beauty industry.)
 
</div>

Phyla is developing alternative therapies for antibiotics. The focus of most microbiome efforts is to discover beneficial bacteria to add to the microbiome, in order to cure disease or maintain health. However others lack a subtractive function that can remove harmful or disease-causing bacteria, that would allow the microbiome to rebalance and achieve a stable healthy state. Using bacteriophages as a foundation, they are developing a powerful platform that allows us to selectively 'subtract' bad bacteria without harming the good strains present in the community. It's a bit like using a sniper instead of a grenade to take out a bad guy in a crowd of people.

Perfect Corp. (NYSE: PERF) is the leading SaaS AI and AR beauty and fashion tech solutions provider, dedicated to transforming shopping experiences through empowering brands to embrace the digital-first world. By partnering with the largest names in the industry, Perfect Corp.’s suite of enterprise solutions deliver synergistic, technology-driven experiences that facilitate sustainable, ultra-personalized, and engaging shopping journeys, as well as equipping brands with next generation of consumer goods. Perfect Corp. offers a complementary suite of mobile apps, including YouCam Makeup and YouCam Perfect, to provide a consumer platform to virtually try-on new products, perform skin diagnoses, edit photos, and share experiences with the YouCam Community. To learn more, please visit PerfectCorp.com.

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Shiseido was founded in 1872 as the first Western-style pharmacy in Japan. The business gradually evolved into a cosmetics company, offering people the most advanced technology and the finest aesthetics available in the East or the West. Now known globally as the premier cosmetics company with roots in Japan, the name Shiseido has come to represent the world’s highest standards of quality. Shiseido’s global selection of skincare, makeup and fragrance includes a high-performance category for special skincare, and a brightening line. Shiseido also offers body care, suncare and a skincare line for men. Fiercely contemporary and innovative after over 140 years in business, Shiseido group brands are now sold in over 120 countries and regions.

<div> Shiseido is a Japanese multinational company that manufactures and sells skin care, hair care, cosmetics, and fragrances. The company serves around 120 countries and regions and operates in the US through its subsidiary Shiseido Americas. Shiseido personalizes product recommendations and customizes skin care routines after analyzing the customer&rsquo;s answers to an online quiz and an optional selfie. Similar recommendations are also available for serums, eye care, foundation, and moisturizers. In 2017, the company acquired MATCHCo, a patent holder for skin scanning technology, and artificial intelligence (AI) developer Giaran to drive the company&rsquo;s product personalization capabilities. Both acquisitions were made through Shiseido Americas. </div>

Shiseido transfers flagship store business to Ginza subsidiary

Companies that leverage technologies such as AI/ML and AR/VR  to enable cosmetic producers to offer personalized product offerings to consumers. This could include virtual-try-ons for cosmetics such as makeup and hair color in addition to solutions for skin analytics.

Companies that formulate customized solutions for skin, leveraging technologies such as AI/ML to conduct skin analysis, and provide personalized recommendations, which are directly sold to consumers.

Companies that leverage biotechnology, nanotechnology, or other technologies to develop biomaterials or novel lab-grown ingredients (e.g., bio-based cosmetic polymers) for use by the broader beauty industry.

Companies that leverage technologies like IoT to develop smart devices (e.g., smart mirrors, wearables) that offer real-time analysis of skin health, skincare routines, and product usage for consumers. This also includes companies that offer 3D-printed makeup, at-home beauty tech (e.g., at-home manicure machines), and other tech-based personal care products (e.g., tech-enabled color-changing nails).

Companies that leverage technologies such as AI/ML to match consumers with third-party beauty products by offering personalized recommendations to consumers, which are curated based on each individual customer’s preferences.

Companies that formulate customized hair and other beauty solutions such as fragrances, leveraging technologies such as AI/ML to tailor product recommendations, which are directly sold to consumers.

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