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Friday, January 27, 2023

Farfetch (NYSE: FTCH) Announces Acquisition of Violet Grey

Farfetch Limited (NYSE: FTCH) revealed that it has decided to purchase luxury beauty retailer, Violet Grey. The purchase of Violet Grey adds industry experience and a curated selection of items to the FARFETCH Marketplace, as well as extending the beauty curator’s reach to FARFETCH’s global consumer base.

Violet Grey has established itself as a recognized beauty destination and a high-quality content channel, as well as the launchpad for many of today’s most well-known worldwide beauty businesses. The company has cultivated a committed following that admires the brand’s skill and the confidence it has earned among customers.

Violet Grey will also take advantage of Farfetch Platform Solutions’ expertise in technology, global logistics, and operations in continuing to bring its standalone business, which consists of VioletGrey.com and its Los Angeles retail store. Furthermore, the acquisition of Violet Grey comes at a critical time as the company is preparing the launch of Beauty on the FARFETCH Marketplace.

FARFETCH’s beauty proposition, which is scheduled to launch later this year, will provide a unique experience for finding and shopping for beauty to FARFETCH’s vast Millennial and Generation Z luxury audience. It will also enable customers to access insights and expertise from multiple beauty experts and communities, including the Violet Grey community.

Additionally, Cassandra Grey, the founder of Violet Grey, will join the FARFETCH Marketplace as a global advisor for beauty and co-founder of NGG Beauty, where she will work to foster and promote new brands. Grey will also serve as Chair of Violet Grey, where he will provide overall creative and strategic direction as well as continue to expand the Violet Grey community.

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