Lulu Lab, an artificial intelligence (AI)-based customized beauty solution provider, announced on the 24th that it has secured exclusive sales rights to exclusively sell the "Activity UV Protection Sun Patch" released by daily self-care cosmetics brand Avazar in June.
Avazar's Activity UV Protection Sunpatch is a product jointly planned based on UV-related AI analysis technology and data developed by Lulu Lab. Lulu Lab's personal AI UV analysis service analyzes the results of sunscreen application and current skin conditions by region with image processing technology.
Lulu Lab provided Avazar with data and analysis results related to the real-time UV blocking analysis system held through research and development. As a result, Lulu Lab and Avazar jointly developed gel essence-type UV protection patches that can be attached to eyes, nose glasses, and cheekbones that are exposed to ultraviolet rays and can be used comfortably two to three times.
Lulu Lab and Avazar's UV Protection Sun Patch can be attached to the skin without irritation by applying a hydrogel patch, and boasts excellent fixing power in rounding for a long time with strong adhesion. In addition, it contains natural raw material extracts such as vial extract, aloe vera leaf extract, and seven hyaluronic acid, which can help manage dry skin due to various external factors including ultraviolet rays.
In addition, as more and more people are looking for safe exercise to enjoy outdoors with nature due to the prolonged COVID-19, the first release was sold out at the end of July, mainly among various age groups, including the MZ generation (2030 generation).
Lulu Lab is a company spin-off from Samsung Electronics' C-lab in 2017, and has developed and commercialized 'LUMINI', an AI skin measurement solution. Lulu Lab Lumini, which smartly provides skin analysis through AI with a single face scan, provides skin measurement, analysis, and solution with more than 90% accuracy as a result of evaluation by a professional evaluation agency. The time required for all of these processes is within 10 seconds to provide and share personalized skin analysis results reports to customers that can be seen at a glance.
Lulu Lab has more than 10 patented technologies, including 700,000 skin data around the world, UV blocking analysis and portable measurement devices, cosmetics recommendations, skin measurement modules, smart shelter (bus stops), and customized skin diagnosis. In the future, it plans to expand its business model by providing technologies and solutions in the technology development and product planning stage of beauty and healthcare companies and obtaining exclusive sales rights for innovative items co-produced based on them.
Choi Yong-joon, CEO of Lulu Lab, said, "After COVID-19, data-oriented customized products are becoming more important in the beauty market," adding, "The UV protection sun patch made based on AI analysis solutions and data is the result of a new type of collaboration with cosmetics companies." There will be more collaborative products based on AI data in the future.
Meanwhile, Lulu Lab has won the Innovation Award for the third consecutive year since 2019 at CES, the world's largest consumer electronics fair. In addition, it won the first IT solution ever at Cosmoprof, the world's largest cosmetics fair, and is recognized for its expertise and innovation in the beauty industry. In the second half of this year, the company plans to accelerate the accumulation of skin data and generate various profit models by launching mobile-based app services for skin measurement and management and beauty commerce platforms.
[Financial News - 21.08.24 Avazar launches innovative products based on Lulu Lab's "AI Skin Stone Solution" Eibazar and Lulu Lab's "AI Skin Stone Solution"]