Farfetch enters beauty market with Violet Grey acquisition
Farfetch’s new beauty proposition will reportedly allow customers to access insights and expertise from beauty experts and communities, including the Violet Grey community
Fartech Limited, the global platform for the luxury fashion industry, has announced it will acquire luxury beauty retailer, Violet Grey, for an undisclosed sum.
The acquisition comes ahead of the launch of Beauty on the Farfetch Marketplace, which is scheduled for later in the year, and it will bring industry expertise and a curated selection of products to the company.
Farfetch said the acquisition will expand the beauty curator’s reach to extend to Farfetch’s global customer base. Violet Grey will also leverage Farfetch Platform Solutions’ expertise in technology, global logistics and operations in continuing to drive its standalone business.
Upon completion, Cassandra Grey, Violet Grey founder, will become a global advisor for Beauty on the Farfetch Marketplace and co-founder of NGG Beauty where she will work to “incubate and accelerate” new brands. She will also be chair of Violet Grey, providing overall strategic and creative direction.
Meanwhile, Niten Kapadia, previously vice president of operations at Farfetch, takes the role of managing director for Violet Grey.
Overall, Farfetch’s beauty proposition, which is due to launch later this year, will reportedly allow customers to access insights and expertise from beauty experts and communities, including the Violet Grey community.
Stephanie Phair, chief customer officer at Farfetch, said: “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’.
“As a marketplace, we are uniquely positioned to be able to offer multiple points of view and voices in this important category, so customers can find the products and expertise that speak to them. The addition of Violet Grey and Cassandra Grey joining the team will form an important element of this overall strategy.”
Grey added: “Myself, Sarah Brown and our band of beauty editors could not be prouder or more eager to bring our love of beauty and discerning eye to the Farfetch ecosystem.”
