THE WHAT? Farfetch is thought to be closing down its beauty division after less than 18 months in business. The online retailer created Farfetch Beauty last April, following its acquisition of Violet Grey.

THE DETAILS Violet Grey will continue to operate as a standalone business within the Farfetch Group. The marketplace’s closure follows that of rival The RealReal earlier this year.  

THE WHY? Shoppers are said to be favoring bricks and mortar retailers with strong and established reputations over emerging online platforms. What’s more, Farfetch is said to have struggled to manage inventory and has seen profit margins narrow amid a US slowdown.