Farfetch Welcomes Violet Grey: A New Beauty Partner in the World of Online Retail
The high-end beauty and wellness retailer Violet Grey is up for sale. Farfetch, the global luxury fashion marketplace, recently made the decision to part ways with the Los Angeles-based business.
A Short-Lived Partnership with Farfetch
Farfetch acquired Violet Grey in January 2022 for a sum exceeding $50 million, aiming to enhance its presence in the beauty industry. This purchase was seen as a strategic move to bridge the gap between fashion and beauty, a growing trend among luxury marketplaces.
The Unique Appeal of Violet Grey
Founded in 2012, Violet Grey carved a niche in the beauty industry by curating a selection of luxury brands, including iconic names like Chanel and Tom Ford. It became known for featuring new, noteworthy brands like Augustinus Bader and Eighth Day. Despite its size, it often introduced fresh product launches ahead of major competitors.
Challenges and Future Prospects
While Violet Grey’s unique editorial content and user reviews provide a competitive edge, Farfetch’s partnership failed to make a substantial impact in the beauty market. With the brand now on the market, it remains to be seen if a suitable buyer will emerge in the evolving landscape of beauty retail.