Perfect Corp. is growing its AR capabilities with the acquisition of technology firm Wannaby Inc. after striking a deal with luxury fashion marketplace Farfetch. | Photo by Wannaby inc.
TECHNOLOGY
Perfect Corp. Enters Deal With Farfetch to Acquire Wannaby Inc.
Fashion- and beauty-technology-solutions company Perfect Corp. has acquired Wannaby Inc., a digital immersive-experiences provider, from global luxury fashion marketplace Farfetch. The agreement supports Perfect Corp.’s efforts to grow its augmented reality and virtual try-on offerings and fortify its presence in the luxury sector, particularly in the fashion, footwear and bag categories.
The deal is expected to be finalized later in 2025. Terms of the agreement were not disclosed by press time. Farfetch will continue to use Wannaby’s systems as the e-commerce destination’s digital-shopping platform evolves.
Wannaby, which is also known to consumers as “Wanna,” has counted more than 30 premium brands among its clients. The firm has worked with brands including Balenciaga, Browns, Diesel, Dolce & Gabbana, IWC, TOD’S and Valentino. Wannaby’s 3D Viewer allows brand clients to examine the smallest details of products. According to the company, this tool has decreased product returns by 9 percent. These technologies also support sustainable efforts by reducing the costs and resources of product returns.
“By welcoming Wannaby’s capabilities into our portfolio we are poised to enrich our digital solutions and reinforce our presence in the fashion-tech landscape,” said Alice Chang, founder and CEO of Perfect Corp. “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.”
London-based Farfetch acquired Redwood City, Calif.–headquartered Wannaby Inc. in April 2022, which helped the technology firm scale. Wannaby launched its AR and 3D offerings in 2017 to support virtual try-on innovation in categories such as sneakers and watches.
Perfect Corp. has been busy strengthening and diversifying artificial intelligence and AR offerings. Ahead of its Dec. 23 acquisition of Wannaby Inc., Perfect Corp. introduced AI application programming interfaces on Dec. 18. The fresh offering includes a suite of turnkey image-processing tools that afford flexibility and support scalability. The move is aimed to support innovation in content creation and promote customer engagement in e-commerce.
