FARFETCH to acquire cult favorite luxury beauty destination, Violet Grey

FARFETCH Limited (NYSE: FTCH), the leading global platform for the luxury fashion industry, today announced it will acquire luxury beauty retailer, Violet Grey, for an undisclosed sum. Since launch, Violet Grey has become a renowned beauty destination and elevated content channel, and been the launchpad for many of today's most iconic global beauty brands. The company has built a devoted community who love the brand for its expertise and the trust they’ve built amongst customers. The acquisition comes ahead of the launch of Beauty on the FARFETCH Marketplace, which is scheduled for later in the year.

The acquisition of Violet Grey brings industry expertise as well as a curated selection of products to be offered on the FARFETCH Marketplace, and expands 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, comprised of VioletGrey.com and its Los Angeles retail store. Upon completion, Violet Grey founder, Cassandra Grey, 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. Grey will also be Chair of Violet Grey, providing overall strategic and creative direction and continuing to build the community that Violet Grey is known for. Niten Kapadia, previously VP Operations, FARFETCH takes the role of Managing Director for Violet Grey. Completion is subject to customary closing conditions, including the consent of Violet Grey’s existing shareholder base.

FARFETCH’s beauty proposition, which is due to launch later this year, will offer FARFETCH’s extensive Millennial and Generation Z luxury audience a unique experience for discovering and shopping for beauty. It will allow customers to access insights and expertise from multiple beauty experts and communities, including the Violet Grey community. For brand partners, FARFETCH’s expansion into Beauty provides an opportunity to reach FARFETCH’s millions of engaged luxury customers through co-branding and marketing opportunities to target the global Luxury Beauty market, estimated to be almost $USD 69 billion and the second largest category within the global Personal Luxury market, after Leather Goods, and ahead of Apparel¹.