Online luxury fashion e-commerce store, Farfetch has announced it's set to acquire beauty retailer, Violet Grey, making its first move into beauty.
The company said in a release that since launch, Violet Grey has become a renowned beauty destination and elevated content channel, and it has been the launchpad for many of today’s most iconic global beauty brands.
Farfetch chief customer officer, Stephanie Phair said the acquisition comes ahead of Farfetch's launch into beauty, which is scheduled for later in the year, adding it "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, joining a world of beauty brands, from the iconic leading global brands, to smaller brands with a cult following," said Phair.
The acquisition means Farfetch will earn access to prestigious brands, some that aren’t sold at Sephora or Cult Beauty, and founder Cassandra Grey believes that brands could benefit from the new route to market and the potential to enlarge their customer base.
"This partnership is about taking our seal of approval and community endorsement and helping brands scale and reach some of the most discerning consumers around the world," said Grey.
Grey will remain on as chair and join Farfetch as global advisor for beauty and co-founder of New Guards Group Beauty, where she will work to incubate and accelerate new brands.
