The company, which specializes in virtual try-on of cosmetics and beauty products, is expanding its footprint into luxury fashion with the acquisition of Wannaby Inc. by Farfetch.
Known for its virtual try-on technology and digitization solutions for the fashion industry, Wannaby has served over 30 leading luxury brands. Its technology helps consumers around the world virtually try on shoes, bags and other pre-mom fashion products. This strategic move will help Perfect Corp. expand its digital experiences into new luxury market segments and strengthen its position as a technology leader in virtual try-on (VTO). The startup, based in Vilnius, Lithuania, was acquired by Farfetch in 2022.
“By welcoming Wannaby’s capabilities to our portfolio, we are poised to enrich our digital solutions and strengthen our presence in the fashion technology space. This expansion into new fashion categories such as shoes and bags “This demonstrates our commitment to innovation and our ability to deliver exceptional value to customers in a variety of sectors,” said Alice Chang, Founder and CEO of Perfect Corp. I did.
Collaboration with Farfetch
This operation also marks the beginning of a partnership between Perfect Corp. and Farfetch.
Indeed, following the acquisition, the global luxury fashion industry will continue to rely on Wannabe’s solutions to enhance the shopping experience in online stores.
The acquisition is expected to close in the coming months, subject to customary closing conditions.
