In a move poised to reshape the digital luxury landscape, beauty tech giant Perfect Corp. has announced its acquisition of Wannaby, a specialist in immersive digital experiences for the fashion industry. This strategic acquisition, facilitated by an agreement with luxury e-commerce platform Farfetch, signals Perfect Corp.’s ambitious expansion into new high-end markets, including shoes, handbags, and apparel.
Wannaby, recognized for its advanced virtual try-on technology and digitalization expertise, boasts a client roster of over 30 prominent luxury brands. Integrating Wannaby’s innovative solutions with Perfect Corp.’s existing beauty technology is expected to revolutionize the digital shopping experience across both beauty and fashion sectors. This acquisition significantly broadens Perfect Corp.’s portfolio and cements its position as a key technology player within the luxury fashion arena.
Perfect Corp.’s leadership views this acquisition as a pivotal step in enhancing its digital offerings and strengthening its presence in the fashion tech space. The expansion into new product categories like shoes and bags underscores the company’s dedication to innovation and its commitment to providing valuable solutions to clients across diverse industries.
The acquisition also establishes a collaborative relationship between Perfect Corp. and Farfetch. Post-acquisition, Farfetch will continue to leverage Wannaby’s technology to elevate its own digital shopping experience, reflecting a shared vision for the future of fashion technology.
The acquisition is anticipated to close in the coming months, pending standard closing procedures. This development marks a significant shift in the digital fashion landscape, with Perfect Corp. poised to become a dominant force in providing cutting-edge technology solutions for the luxury market.
