Violet Grey founder Cassandra Grey has repurchased her beauty brand from Farfetch.
Grey partnered with Sherif Guirgis, a private equity investor, to acquire her business back from the fashion retailer.
Guirgis, who has previously worked at Apollo Global Management and Lion Capital, has been named as CEO, chairman and co-owner.
Grey will take up the role of artistic director and chair of Violet Labs, a new brand development division.
“It is with tremendous gratitude to our team, and our community of collaborators, that we are pleased to inform you that our business is back in our hands,” Violet Grey wrote in a post on Instagram.
“We have safely arrived back home, unscathed and remaining true to our simple, straightforward mission: to enable the discerning to feel confident in their purchase decision.”
Farfetch originally acquired the Los Angeles-based business in January 2022, ahead of its beauty category debut in April that same year.
However, Farfetch shuttered its beauty division in September 2023 and put Violet Grey up for sale one month later.
The e-commerce business reportedly struggled to attract and retain beauty consumers.
Farfetch teamed up with more than 100 brands and spokespeople such as Isamaya Ffrench and cosmetic scientist Michelle Wong to launch its beauty arm.
Violet Grey was founded in 2013.
Read more:
- Violet Grey’s sale highlights the high stakes of juggling fashion and beauty
- Beauty destination Violet Grey acquired by fashion retailer Farfetch in fresh move to cosmetics
- Farfetch has officially entered beauty retail with over 100 brands
- Farfetch puts Violet Grey up for sale
