Alice Chang, founder and CEO of Perfect Corp., created virtual try-on technology that is used by Clinique, M.A.C., Sally Hansen and over 400 other beauty brands.Software entrepreneur Alice Chang has convinced most of the beauty world to offer her virtual try-on technology to shoppers. Now her newly public company is chasing opportunities in jewelry, apparel and even plastic surgery and dentistry.
Perfect Corp.’s customer roster includes 17 of the world’s 20 largest beauty companies, encompassing over 450 brands. “Front and center, she has 85% of the top companies that matter,” said Clarke Jeffries, an analyst at Piper Sandler. “Usually, you don’t get that type of market share this early.” In 1997, she took an 80% pay cut to start an entrepreneurial venture with her husband called CyberLink, a rare software company in a nation known for manufacturing computer chips and other hardware. They created a program called PowerDVD, which would end up as the default software much of the world used to watch movies via DVD on their computers.
Seconds later, it spit out a recommendation for my perfect shade and two accompanying lipsticks . I examined the before-and-after images of myself on my screen, and without much more thought, added both products to the cart. The promise of free samples with my purchase, plus free shipping, sealed the deal.
The technology is making its way into stores, too. Estee Lauder has installed 8,000 smart mirrors around the world, where shoppers can see a reflection of their own face and tap to easily try various products. Before, customers would’ve been limited to trying a handful of shades on their arm with the assistance of a sales clerk.