The Born-to-Global Center announced on the 4th that its member company lululab has signed a memorandum of agreement (MOA) with Optimizer Group,
a Japanese digital marketing and ICT technology sourcing group.
lululab, a startup from Samsung Electronics' in-house venture C-Lab, developed "LUMINI," an artificial intelligence skin secretary based on skin data.
Lumini is a product that scans and analyzes skin based on artificial intelligence technology and recommends optimal cosmetics for individual skin conditions.
Through this MOA, lululab will conduct full-fledged marketing on the Japanese and Asian markets through Optimizer Group,
and Optimizer Group will be guaranteed exclusive rights to the Japanese market on the premise of sales worth 3 billion won.
Optimizer Group said it plans to establish "lululab Japan Inc., a Japanese joint venture that recognized its high stock value, in Tokyo, Japan, during the third quarter.
Optimizer Group was established in 2005 and has strengths in in information and communication technology (ICT) and big data analysis through web marketing businesses for many years.
Recently, in addition to the use of artificial intelligence technology, the latest technology research and development in the field of cross reality,
and the technology are being used to develop businesses in Korea, Japan, and Southeast Asia. Shiseido is a representative customer.
After the establishment of the joint venture, the two companies plan to take an aggressive lead in the market by utilizing lululab's artificial intelligence and
big data technology and Optimizer Group's network. It is to continuously develop customized cosmetics and services based on artificial intelligence.
We will secure competitiveness through Optimizer Group's network and marketing know-how and accelerate the spread of beauty AI solutions,
said Choe Yong-joon, CEO of lululab. "We plan to actively target the global beauty market through cooperation and joint ventures with various companies."
Meanwhile, lululab is expanding its artificial intelligence beauty store that enables unmanned customized beauty services in countries around the world,
starting with the launch of its first artificial intelligence store at Gallery Lafayette located in The Dubai Mall in April.
[BUSINESSKOREA 2019.07.04 - lululab, a beauty AI startup, is entering Japan in earnest.MOA signed with the optimizer.]
