Farfetch backpeddles on Violet Grey’s future; puts LA beauty chain up for sale

Farfetch backpeddles on Violet Grey’s future; puts LA beauty chain up for sale

THE WHAT? Having announced that it was bowing out of beauty in August, with the exception of its Violet Grey business, Farfetch has backtracked and put the LA-based beauty retailer up for sale.

THE DETAILS According to a report published by the Business of Fashion, Farfetch purchased the luxury shopping destination in January 2022 for US$50 million. The sale price has not been disclosed and a buyer has yet to be identified.

THE WHY? Farfetch did not respond to a request for comment when approached by the Business of Fashion but the publication speculates that, when the acquisition failed to transform the fashion platform into a major player in beauty, it decided to call time on the project.

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