Perfect Corp has acquired Farfetch’s Wannaby operation — known as Wanna to its consumer users — as it continues to expand its fashion and beauty tech offering. The new owner is best known for its AR and AI solutions, particularly beauty diagnostics but also virtual try-on (VTO). And VTO is the big focus for Wannaby. 

The acquisition is said to “represent a significant milestone in integrating advanced technology, enabling Perfect Corp to expand its offerings into new luxury market segments, including shoes, bags, and apparel”.

Importantly, it also boosts Perfect Corp’s exposure to the upper end of the fashion segment with the company saying that “Wannaby, known for its virtual try-on technology and digitalisation solutions for the fashion industry, has served over 30 top-tier luxury brands. By integrating Wannaby’s innovative solutions with Perfect Corp’s state-of-the-art beauty tech solutions, the company is set to redefine the digital experience in the fashion and beauty sectors. This strategic move expands Perfect Corp’s capabilities and solidifies its position as a technology leader in the luxury fashion domain”.

Alice Chang, founder and CEO of Perfect Corp, said: “We are poised to enrich our digital solutions and reinforce our presence in the fashion tech landscape. This expansion into new fashion categories such as shoes and bags demonstrates our commitment to innovation and our ability to deliver exceptional value to clients across diverse sectors.”

Importantly too, the deal also marks the beginning of a collaborative relationship between Perfect Corp and Farfetch and after the acquisition, the latter will continue to use Wannaby’s solutions “to enhance the digital shopping experience, reflecting a shared vision for the future of fashion technology”.

The deal should be finalised in the next few months. No purchase price was given.