L’Oréal Professionnel, a prominent player in the professional hair tech industry, has embarked on an exciting journey into the Metaverse, harnessing cutting-edge technology to enhance self-expression in the realm of hair beauty. Recognizing the vast potential of the Metaverse, L’Oréal Professionnel, renowned for its innovative approach to hair tech, is committed to reshaping the industry. Their mission is to provide more inclusive, diverse, and creative virtual hair looks, catering to a wide range of virtual identities. After a successful global launch and implementation, the brand has introduced its latest innovation to the Indian market.
Metaverse Growth Projections
A research report by Grand View Research, Inc. reveals that the global metaverse market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 41.6 percent. This robust expansion is expected to drive the market to an estimated value of US$ 936.6 billion by the year 2030. For India, Arthur D. Little, a prominent strategy and management consulting firm, anticipates the Metaverse market to reach a substantial $200 billion by 2035. The Metaverse aligns seamlessly with current trends in self-expression and digitalization, offering users an immersive space to create digital identities, experiment with avatars, styles, and experiences that mirror their real-world personas. As digitalization blurs the boundaries between the physical and virtual realms, the Metaverse facilitates global access to products, services, and social interactions, thereby enhancing connectivity.
L’Oréal Professionnel’s Metaverse Pillars
L’Oréal Professionnel’s Metaverse initiative for this year includes a pivotal focus on “More Hair Looks with Hair Drops for Multiple Platforms.” The brand’s objective is to curate an extensive array of diverse and playful virtual hair looks, ensuring that users can discover the perfect style for their virtual personas. In collaboration with CGI artist Evan Rochette, the brand has introduced five distinctive hair looks on the world’s largest cross-game avatar platform, Ready Player Me. These innovative hair drops will also be accessible on platforms like Robox and Zepeto. In total, L’Oréal Professionnel has unveiled 16 imaginative and avant-garde virtual looks across multiple platforms, including Ready Player Me, Roblox, and Zepeto.
Mathilde Barthelemy-Vigier’s Insights
Mathilde Barthelemy-Vigier, General Manager of L’Oréal Professionnel India, shared her thoughts on this significant move, stating, “We were the inaugural professional hair tech brand to venture into the Metaverse towards the end of last year. Our brand’s vision, ‘Professional hair tech that elevates you,’ has been the driving force behind this momentous Metaverse journey. We are now accelerating our efforts, leveraging avatars as a point of entry. In the rapidly evolving Metaverse, avatars have evolved into artistic canvases for self-expression. As users immerse themselves in this digital realm, their avatars become a reflection of their personality, style, and identity, with hair serving as a prominent feature to craft their unique virtual persona. L’Oréal Professionnel fosters this connection by offering diverse and inclusive hair looks, empowering users to authentically express themselves in this limitless virtual world. Research indeed suggests that within the next 5 to 10 years, individuals may possess up to 10 avatars as virtual identities that represent them.”
Brand Equity and Innovation
L’Oréal Professionnel’s entry into the Metaverse extends its brand equity, showcasing innovation in the realm of hair beauty. As a globally recognized trailblazer in the beauty industry, the brand demonstrates its adaptability by embracing the Metaverse, leveraging its reputable status, and showcasing agility in catering to evolving consumer preferences and technological advancements. The Metaverse’s central focus on self-expression and digital engagement seamlessly aligns with L’Oréal Professionnel’s core values. Empowering unique styles through hair has always been a cornerstone of the brand’s philosophy, and this commitment now extends to the Metaverse. With the aid of virtual tools and immersive experiences, L’Oréal Professionnel’s creativity thrives, allowing for authentic expression. This further solidifies the brand’s position as a leader in the beauty industry, adept at foreseeing trends and engaging consumers through innovative means.