Founder of American luxury beauty seller said the deal, for an undisclosed sum, was ‘bittersweet’
Violet Grey founder, Cassandra Grey
Fashion retailer Farfetch has made a bold move into the world of cosmetics by acquiring luxury beauty shopping destination Violet Grey.
For an undisclosed sum, the apparel seller will gain access to Violet Grey’s growing beauty community, who visit the platform for content as well as commerce.
Beauty authorities, including editors, dermatologists, make-up artists and estheticians, have all contributed to the website’s content material.
Violet Grey, meanwhile, which was founded by Cassandra Grey in 2012, will have open access to Farfetch’s customer base by integrating its platform onto the fashion retailer’s homepage.
Not forgetting its bricks-and-mortar presence, the Violet Grey Los Angeles, US, retail store will also benefit from Farfetch’s operations and global logistics.
Grey – whose reputation has earnt her the name of Hollywood’s beauty guru – asked for support from her company’s followers during this period of transition.
“As the founder, this moment is wonderfully bittersweet,” she said in a letter to her community, posted on violetgrey.com.
“Like my brilliant child going off to Harvard or being pulled out of high school to work for Apple.
“Except in this case, my talented team and I are this child, nervous about our first day in a much bigger pond, and asking you, our Violet Grey community, to join us and support us in this next thrilling chapter.”
She added: “The acquisition of Violet Grey by Farfetch is one that will bridge the gap between luxury fashion and beauty commerce, allowing us to share our coveted community and distinct point of view with a global audience.
“With this new partnership, Violet Grey and Farfetch hope to offer you whatever you need, wherever you are, truly making it on the moments that have made us.”
As part of the Farfetch group, Grey will also become a global advisor for the newly launched beauty category on the Farfetch Marketplace and lead a new incubator brand, NGG Beauty, which she helped co-found.
For Farfetch, this will be the first time in its history that it has delved outside the parameters of fashion – as beauty overtakes apparel to become the second largest category in the personal luxury market, according to study by luxury goods committee Altagamma.
The findings revealed that the beauty market is estimated to be worth US$69bn.
“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 of Farfetch.
“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.”
Beauty brands available on violetgrey.com include Dr Barbara Sturm, Kjaer Weis, Ouai and Tata Harper.