Perfect Corp. Acquires Fashion Tech Leader Wannaby to Enhance Virtual Try-On Capabilities and Strengthen High Fashion Portfolio

Perfect Corp., a leading provider of augmented reality (AR) and artificial intelligence (AI) technology solutions for the fashion and beauty industries, has announced its acquisition of Wannaby Inc., a company specializing in virtual try-on technology and digitalization solutions for The deal, which involves a collaboration with Farfetch, a global luxury fashion marketplace, is set to enhance Perfect Corp.’s offerings and strengthen its position in the luxurymarket.

This acquisition marks a key step Fashion in Perfect Corp.’s

strategy to broaden its technological portfolio and expand into new high-end segments, including shoes, handbags, and apparel. Wannaby’s innovative solutions have already made a significant impact, serving over 60 prestigious luxury brands. By incorporating Wannaby’s technology with its own, Perfect Corp. aims to revolutionize the digital shopping experience for consumers and further cement its position as a leader in fashion tech.

Alice Chang, Founder and CEO of Perfect Corp., expressed enthusiasm about the acquisition, stating, “By welcoming Wannaby’s capabilities to our portfolio, we are poised to enrich our digital solutions and strengthen our presence in the fashion tech landscape. This expansion into new fashion categories, such as shoes and handbags, demonstrates our ongoing commitment to innovation and our ability to provide exceptional value to customers across multiple industries.”

With this acquisition, Perfect Corp. will significantly enhance its virtual try-on and digitalization capabilities, which have already been highly successful in the beauty sector. The integration of Wannaby’s technology will enable the company to expand its reach into luxury fashion, offering brands and consumers alike a seamless digital shopping experience that allows users to virtually try on items such as shoes, handbags, and apparel before making a purchase.

A significant aspect of the deal is the continuation of Perfect Corp.’s collaborative relationship with Farfetch, which will continue to leverage Wannaby’s solutions to improve its digital shopping experience. This collaboration underscores a shared vision for the future of fashion technology, with both companies looking to enhance the online shopping experience for luxury consumers worldwide.

This move highlights the increasing importance of AR and AI in shaping the future of retail, particularly in the fashion industry. Consumers are increasingly looking for ways to digitally engage with products before purchasing, and the ability to virtually try on items is one of the most sought-after features in e-commerce. The integration of AR and AI technologies into online shopping platforms is set to drive innovation in the luxury fashion market, where consumers expect highly personalized and immersive experiences.

The fashion industry has seen a rapid shift toward digitalization in recent years, and the COVID-19 pandemic accelerated this trend. As more consumers shop online, the need for virtual try-on solutions has become increasingly crucial, particularly in the high-end fashion sector, where the experience of trying on luxury items in-store plays a significant role in the purchase decision. With the integration of Wannaby’s technology, Perfect Corp. is well-positioned to meet this demand and offer consumers a more interactive and engaging shopping experience.

Perfect Corp.’s acquisition of Wannaby also highlights the growing importance of partnerships between technology companies and luxury fashion brands. By providing brands with advanced tools to create immersive digital experiences, Perfect Corp. is enabling them to better engage with consumers and stay ahead of evolving trends in the digital shopping landscape. The acquisition further strengthens Perfect Corp.’s reputation as a leader in fashion and beauty technology, positioning it to capitalize on the growing demand for innovative digital shopping experiences.

The acquisition is expected to close in the coming months, subject to customary closing conditions. Following the completion of the deal, Perfect Corp. will continue to develop and enhance its digital solutions, integrating the best of Wannaby’s technology into its portfolio to further revolutionize the fashion and beauty industries.

This acquisition not only expands Perfect Corp.’s capabilities but also strengthens its collaboration with Farfetch, marking the beginning of an exciting new chapter in the intersection of technology and fashion. As the fashion industry continues to embrace digital solutions, the future of shopping looks increasingly virtual, with augmented reality and artificial intelligence playing a central role in shaping the next generation of luxury retail experiences.

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