A beauty brand called Seduction has been buying up camera-equipped cosmetics companies, according to the company’s chief executive.
The company has recently bought up several companies including L’Oreal, and has also purchased brands like Glam Glue and L’oreal.
L’Oblivion, which had been one of the first companies to make cameras-ready cosmetic products, was acquired by Seduction in September this year.
Seduction’s director of strategic partnerships, Andrew Sillitoe, told AAP that L’Oréal was acquired at a lower valuation than its previous acquisition of the company, which it described as a “big-name acquisition”.
“We’re very excited about our acquisition of L’Occitane, and we think they will be a great addition to our portfolio,” he said.
“We’ll also be looking to add some of our own brands to our line-up of products and services, as well as a few of our existing brands.”
Seductions brand manager David Taylor said the acquisition of Beauty was a good example of Seduction looking for a “sustainable source of revenue” in the future.
“Seductive Cosmetics is a leader in the world of photography-ready makeup, but in the beauty industry there are lots of opportunities to innovate,” he told AAP.
“The beauty industry is in a transition, where the big players have been acquiring and using all the technology in the marketplace.”
But it’s important to look at other avenues of revenue and what’s going to be most effective for the long term, and what we see as a viable option is capturing the revenue from the camera technology.
“The company also recently opened a new cosmetics store in Sydney, where it is currently stocking L’Eco-Beauty.