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To expand into the new territory of cosmetics, perfumes and other skincare products, the British-Portuguese player is relying on three levers: its online platform, its London store Browns and the brand Off-White, owned by its subsidiary New Guards Group.
After having forged a place of choice in the online sale of designer fashion and luxury, the Farfetch platform is now tackling beauty. It’s about time, as many eCommerce and fashion players have already invested in this global market, which is booming in the prestige segment.
The most visible action of the British-Portuguese company is the launch on April 20 of the new Farfetch Beauty division on its online platform. Its selection of around 100 high-end brands is intended to be one of the most desirable on the market. From Charlotte Tilbury to Gucci, Bynacht or La Mer, the offer (makeup, skin care, perfumes, hair…), it is composed as well of sure values as new stars.
As with fashion, Farfetch grants concessions to brands that manage their own inventory and logistics and pays them a commission on sales (about 30%).
But the arrival of Farfetch in the booming beauty sector is also based on two other levers. Either via its two subsidiaries bought in 2015 and 2019, the London fashion store Browns and New Guards Group, the Italian incubator of emerging brands (Off-White, Opening Ceremony, Heron Preston, Palm Angels).
Browns will thus offer its own cutting-edge beauty curation, with independent and very fashionable brands such as Alpha-H, By Terry or Westman Atelier. While New Guards Group will rely on Off-White to take its first steps in the sector, via the launch of the Paperwork collection, composed of four gender-neutral fragrances, nail polish and makeup.
Recent warning signs already showed Farfetch’s obvious interest in the beauty sector. In addition to hiring former Vogue beauty director Sarah Brown and former creative consultant for the high-end fragrance brand Byredo, Nellie Eden, Farfetch acquired Los Angeles retailer Violet Grey, known for its outstanding selection of high-end beauty products and community engagement, in January.
In total, Farfetch’s beauty offerings today are meant to be inclusive with “the best luxury beauty products to serve customers of all ages, races, cultures and genders,” said Holli Rogers, Farfetch’s brand manager and president of Browns. Beauty is expected to be “a significant part of Farfetch’s total business in a few years.” In 2021, Farfetch’s revenue grew 35% to $2.3 billion. Above all, it posted a profit of $1.4 billion, compared to a net loss of $3.3 billion the previous year! Enough to invest… in a new territory.
Read also > LES FEMMES DANS LE TRAVEL RETAIL MISES À L’HONNEUR À L’OCCASION DU SALON TFWA
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To expand into the new territory of cosmetics, perfumes and other skincare products, the British-Portuguese player is relying on three levers: its online platform, its London store Browns and the brand Off-White, owned by its subsidiary New Guards Group.
After having forged a place of choice in the online sale of designer fashion and luxury, the Farfetch platform is now tackling beauty. It’s about time, as many eCommerce and fashion players have already invested in this global market, which is booming in the prestige segment.
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To expand into the new territory of cosmetics, perfumes and other skincare products, the British-Portuguese player is relying on three levers: its online platform, its London store Browns and the brand Off-White, owned by its subsidiary New Guards Group.
After having forged a place of choice in the online sale of designer fashion and luxury, the Farfetch platform is now tackling beauty. It’s about time, as many eCommerce and fashion players have already invested in this global market, which is booming in the prestige segment.
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