Online fashion marketplace Farfetch is acquiring Violet Grey.
Farfetch has made a key acquisition in the prestige beauty sector.
The London-based online luxury fashion retailer will acquire upscale, cult fave beauty retailer Violet Greyfor an undisclosed sum. The acquisition comes ahead of the launch of beauty on the Farfetch marketplace, which is scheduled for later in the year. Financial terms of the deal were not revealed.
Founded in 2012, the U.S.-based Violet Grey sells independent brands along with iconic luxe beauty brands such as Chanel, Giorgio Armani and Tom Ford. The site is content-rich andenlists the expertise of beauty editors, dermatologists, makeup artists, estheticians, hair stylists, and celebrities to test and evaluate the performance and presentation of all product considerations.
“Violet Grey was founded with a simple, straightforward mission - to enable customers to feel confident in their purchase decisions,” stated founder Cassandra Grey. “Our product is trust and we have earned that trust simply by partnering with those who are the best at what they do.”
Upon completion of the deal, 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 it is known for.
Niten Kapadia, previously VP operations, Farfetch will take the role of managing director for Violet Grey.
“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, 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.”