Farfetch buys beauty retailer Violet Grey
Farfetch's management said Violet Grey would "leverage Farfetch Platform Solutions' experience and know-how in technology, logistics and operations to continue to drive its business independently.
Farfetch announced on Friday that it would buy Violet Grey, a beauty products retailer, which would be available on the Portuguese luxury fashion company’s platform, without revealing the value of the deal.
Farfetch’s management also said Violet Grey would “leverage Farfetch Platform Solutions’ experience and know-how in technology, logistics and operations to continue to drive its business independently.
Following completion of the acquisition, Violet Grey founder Cassandra Grey will move into the role of global advisor for the beauty category on Farfecth’s marketplace and co-founder of NGG Beauty, where she will be responsible for “incubating and accelerating the growth of new brands”.
Cassandra Grey will remain as president of Violet Grey, while Niten Kapadia, who has served as Farfetch’s vice president of operations, will take over as the brand’s CEO.
Quoted in the statement, Farfetch’s ‘chief customer officer’ Stephanie Pahir said the acquisition is “a part” of the “global strategy” for the beauty category.
“It will enable us to offer our customers a carefully curated and personalised selection of the industry’s most sought-after products on Farfetch’s ‘marketplace’, joining a world of unique beauty brands, from market leaders to smaller brands, but already with a large community of followers,” she detailed.
Cassandra Grey, meanwhile, said she has been keeping an eye on the Portuguese company “since its inception” and that she admires “José’s [Neves, Farfetch’s founder] love of fashion and his mission to inspire and connect creators, creatives and consumers in a revolutionary way”.
Upon completion of the acquisition, Luxclusif will operate on the Farfetch Second Life platform, currently available in the Middle East, the United States of America, and Europe.
