Perfect Corp. acquires fashion tech company Wannaby

Perfect Corp. announced it agreed with Farfetch Ltd., a global marketplace for the luxury fashion industry, to acquire Wannaby Inc., a digital immersive experiences company known for its virtual try-on technology for the fashion industry. Wannaby, acquired by Farfetch in 2022, served 30 top-tier luxury brands. The company was founded in Lithuania in 2017. By integrating Wannaby’s innovative solutions with Perfect Corp.’s state-of-the-art beauty tech solutions, the company is set to redefine the digital experience in the fashion and beauty sectors. This strategic move expands Perfect Corp.’s capabilities and solidifies its position as a technology leader in the luxury fashion domain.

“By welcoming Wannaby’s capabilities into our portfolio, we are poised to enrich our digital solutions and reinforce our presence in the fashion tech landscape,” said Alice Chang, founder and CEO of Perfect Corp. “This expansion into new fashion categories such as shoes and bags demonstrates our commitment to innovation and our ability to deliver exceptional value to clients across diverse sectors.”

After the acquisition, Farfetch will continue to utilize Wannaby’s solutions to enhance the digital shopping experience, reflecting a shared vision for the future of fashion technology.

The acquisition is expected to be finalized in the coming months, subject to customary closing conditions. Terms weren’t disclosed.