Farfetch to acquire US online luxury fashion retailer Violet Grey
Farfetch Limited, a UK-based online luxury fashion retailer, said that it will acquire Violet Grey, a US-based luxury beauty retailer, for an undisclosed price.
The acquisition will mark the foray of Farfetch in the cosmetics sector.
Violet Grey is a beauty destination as well as a content channel. It is credited to be the launchpad for several of the global beauty brands that are presently available.
Its acquisition comes ahead of Farfetch’s launch of Beauty on the Farfetch Marketplace, which is slated later this year.
Cassandra Grey — Founder of Violet Grey said: “Violet Grey was founded with a simple, straightforward mission – to enable customers to feel confident in their purchase decisions. 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.”
Farfetch to acquire US online luxury fashion retailer Violet Grey. Photo courtesy of FARFETCH UK Limited.
According to Farfetch, the acquisition of the American luxury beauty retailer brings industry expertise alongside a curated selection of products to be put up on the Farfetch Marketplace. Besides, it will grow the reach of the beauty curator to extend to Farfetch’s customer base around the world.
Furthermore, Violet Grey is expected to utilize the expertise of Farfetch Platform Solutions in technology, global logistics and operations in continuing to drive its independent business, made up of VioletGrey website and its Los Angeles retail store.
Stephanie Phair — Chief Customer Officer of 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’. It will enable us to offer our informed and engaged customers a curated selection of the industry’s most sought-after products on the Farfetch Marketplace, joining a world of beauty brands, from the iconic leading global brands, to smaller brands with a cult following.
“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.”