2024’s First Quarter Achievements
In the early part of 2024, LUUM Precision introduced its inaugural commercial pilot project in collaboration with Ulta Beauty. Similarly, Dubai Duty Free joined forces with Alipay+ to enhance their offerings. L’Oreal made headlines with a hair dryer that reportedly uses up to 31% less energy than standard models. Innovators at TikTok tested a feature turning platform posts into shoppable items, while e.l.f. Cosmetics launched “your best e.l.f.,” an Apple Vision Pro beauty shopping app. Collaborations flourished as Redecor and Revlon partnered to bring Revlon’s Super Lustrous™ lipstick shades into Redecor’s game challenges. Moreover, Ulé launched a digital passport for its C-Bright serum, and L Catterton forged alliances with tech giants like Shopify and Meta. Belcorp propelled its WhatsApp sales support with the Jessica chatbot. Henkel teamed with Adobe to leverage generative AI for brand personalization across its global operations.
Notable Developments in the Second Quarter
Prose unveiled its Singular AI platform, fostering extensive personalized beauty solutions. Shiseido’s creative efforts saw a partnership with Narrow Door, iProspect, and Innocept to promote skincare. Clarins USA added a pioneering gen-AI powered care bot to its website, creating a first in the luxury beauty domain. Meanwhile, JP Morgan expanded its Tap to Pay on iPhone service to Canada, with Sephora being the inaugural benefactor.
Third Quarter Highlights
Target embraced artificial intelligence with the Store Companion tool, available in 2,000 stores. The Estée Lauder Companies showcased The Catalysts initiative with TikTok’s backing while Amazon prepped a Temu-style section for cross-border bargains. Oddity readied the introduction of a medical-grade skincare and body care line addressing skin issues. Condé Nast announced a multi-year OpenAI partnership, utilizing ChatGPT technology across its publications.
Innovations in the Fourth Quarter
The generative AI realm saw Unilever and Accenture deepening their strategic union to enhance business operations. Shiseido jointly explored AI innovations with NTT for cosmetic sensations, and invested in strategic projects with Fresha and Yuv. Nestle and L’Oreal furthered the Next Level (NxL) pursuits. The Estee Lauder Companies expanded ChatGPT Enterprise usage. Meanwhile, Meta considered ad sales on Threads in 2025, opposing an anti-trust fine, while Roblox rolled out enhanced parental controls. Eyva.ai secured €2.7 million in seed funding, and legal challenges in the US compelled ByteDance to divest TikTok’s American assets by 2025. Rakuten Group and L’Oréal Japan embarked on a trailblazing endeavor to revolutionize beauty through AI and data insights.