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.
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.
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.
