Seeking to build up its industry expertise and product assortment ahead of a category expansion into beauty slated for later this year, Farfetch will buy luxury beauty retailer Violet Grey for an undisclosed sum. Beauty by Farfetch will offer the platform’s millennial and Gen Z luxury audience access to insights and expertise from multiple beauty experts and communities, including the Violet Grey community.
Violet Grey will leverage Farfetch Platform Solutions’ expertise in technology, global logistics and operations to continue driving its standalone business, consisting of VioletGrey.com and its Los Angeles retail store. Upon completion of the acquisition, Violet Grey founder Cassandra Grey will become a Global Adviser for Beauty on the Farfetch Marketplace and Co-founder of NGG Beauty, where she will work on incubating and accelerating new brands.
“The acquisition of Violet Grey is an important step ahead of the launch of Beauty on Farfetch later this year and will form part of our overall beauty strategy ‘palette,’” said Stephanie Phair, Chief Customer Officer at Farfetch in a statement. “Our aim for Beauty on Farfetch is to provide the world’s most expansive, curated edit of the best products to serve customers across ages, races, cultures and genders in an ‘Only on Farfetch’ way. We’ll be able to show our customers an immersive crossover between fashion and beauty. Farfetch will bring together niche and global brands to transform the beauty retail experience, creating an environment that offers beauty without boundaries.”
“Violet Grey was founded with a simple, straightforward mission — to enable customers to feel confident in their purchase decisions,” said Cassandra Grey in a statement. “Our product is trust and we have earned that trust simply by partnering with those who are the best at what they do. This is our not-so-secret sauce — we partner with the best beauty experts to curate the best beauty brands, to ultimately serve a community of customers who subscribe to the notion that only the best will do.”
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Farfetch has been in acquisition mode in recent months: the marketplace acquired resale tech solution provider Luxclusif in December 2021. This proposed acquisition is subject to customary closing conditions, including the consent of Violet Grey’s existing shareholder base.
