Beauty and fashion technology solutions provider Perfect has agreed to purchase augmented reality and computer vision technologies supplier Wannaby from global luxury fashion marketplace Farfetch. 

The transaction is a significant development for Perfect as it diversifies into new market segments such as footwear, handbags and apparel. 

Wannaby already provides virtual try-on technology and digitisation services to more than 30 prestigious luxury brands.  

Its platform allows users to visualise how items such as shoes and accessories appear on them in real time, transforming the online shopping process for fashion retailers globally. 

The acquisition will integrate Wannaby's solutions with Perfect’s advanced beauty tech offerings, heralding a transformative era for digital consumer engagement in both fashion and beauty sectors. 

The merger is set to enhance Perfect's technological expertise and further cement its status in the luxury fashion tech space. 

Perfect founder and CEO Alice Chang said: "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. 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." 

The acquisition not only augments Perfect's technological suite but also initiates a collaborative relationship with Farfetch.  

Farfetch will continue leveraging Wannaby’s innovative solutions to elevate the online shopping experience for customers worldwide, indicating a mutual aspiration for the evolution of fashion technology. 

The finalisation of the acquisition will take place in early 2025. Financial details have not been disclosed. 

On 5 April 2022, Farfetch completed the acquisition of Wannaby for $24.5m comprised of cash and Farfetch shares.