Ulta Beauty invests in innovation, specifically in artificial intelligence. On this occasion, the retailer has invested in Myavana, a beautytech company that incorporates artificial intelligence into hair care.
Myavana is a company that developed this technology created in 2012 to analyse the variables of hair composition and hair products to personalise a hair care routine with the aim of achieving healthy hair and promoting hair growth.
As part of this agreement and strategic action, Ulta has introduced a new virtual hair analysis tool, which integrates Myavana's technology and enables consumers to gain in-depth knowledge of their hair type and receive personalised product recommendations. The tool will be integrated into Ulta Beauty's e-commerce virtual trial experiences.
Ulta Beauty has explained, according to WWD, that the company will use part of its funding to expand AI technology in retail, including salon channels, and to globally distribute products leveraging the company's consumer intelligence across the hair industry.