Farfetch Enters Beauty Sector With Violet Grey Purchase

Farfetch is planning to acquire U.S. beauty retailer, Violet Grey, marking its foray into the $4.5 billion global luxury beauty industry.

The acquisition will help the London-based luxury fashion eTailer increase its appeal to younger consumers that are fast gaining spending power.

“We’ve been thinking about beauty for a long time,” Stephanie Phair, chief customer officer of Farfetch, said in an interview with Reuters.

The company’s acquisition of Violet Grey comes nearly six years after Farfetch attempted to expand its business into the beauty category. That attempt, according to Phair, helped the company better assess its “own requirements” for managing operations, logistics and positioning.

The online marketplace aims to launch Violet Grey on its platform later this year.

Violet Grey has reportedly built a following by bringing together exclusive offers, advice and commentary from beauty industry experts. Today, the retailer sells beauty products from brands such as Dr. Barbara Sturm and Chanel at price points ranging from $50 to $300.

The financial terms of the deal have not been disclosed so far.

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