The acquisition comes ahead of the launch of beauty on the Farfetch Marketplace, which is scheduled for later in the year.
Commenting on the development, Stephanie Phair, chief customer officer, Farfetch said: “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’. 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.”
The company added that this acquisition 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, comprising 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.
“Violet Grey was founded with a simple, straightforward mission - to enable customers to feel confident in their purchase decisions. Our product is trust and we have earned that trust simply by partnering with those who are the best at what they do. We’ve had our eye on Farfetch since its inception and I have long admired José’s love of fashion and his inspired mission to connect curators, creatives and customers in a way that revolutionizes the consumer experience and meets us wherever we are,” added Cassandra Grey.