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Farfetch wants to become an ecommerce destination for beauty products.
The retailer announced Wednesday that three of its properties – Farfetch.com, Browns and Off-White – will enter beauty simultaneously with curated selections of products in skincare, cosmetics and more. Along with offering products from select brands through a marketplace, Farfetch is building community around beauty and bringing together leading voices in the industry. Through Off-White, the company is also debuting products of its own.
London-based Farfetch grew as a destination in luxury fashion, offering a marketplace that curates a selection from leading brands. By adding beauty to its offerings, it is entering the second-largest category in the global personal luxury market, valued at $69 billion. The move was preceded in January by Farfech’s acquisition of luxury beauty retailer Violet Grey.
At launch, the Farfetch Beauty marketplace will house more than 100 brands, ranging from the most prominent names in the industry to indie brands. The company said its digital beauty department will offer an “immersive crossover between fashion and beauty,” according to a news release, offering features such as virtual try-on.
It is also taking a community approach by launching the Farfetch Beauty Global Collective, which brings together expert voices including Violet Grey founder Cassandra Grey, makeup artists Erin Parsons and Isamaya Ffrench, dermatologist Dr. Michelle Henry and cosmetic chemist Michelle Wong. Simultaneously, it is opening up the Farfetch Beauty Global Community for anyone to join in sharing tips, sampling products and connecting with the Collective.
“Beauty is such an important way for people to be able to express themselves and their individuality – it’s transformative,” Farfetch Chief Brand Officer Holli Rogers said in a statement provided to media outlets. “We took this as an opportunity to shake up the online beauty retail experience by bridging fashion and beauty to appeal to our existing audience of fashion lovers. We knew we had to offer beauty in an ‘Only On Farfetch’ way – combining our know-how in bringing together a diverse community of expert voices that resonate with the modern beauty customer and their needs.”
Browns, which has both a boutique and ecommerce presence, will offer a curated selection of products, selected for “conscious, clean, iconic, inclusive or innovative credentials,” according to the company. The products will be in areas including skincare, makeup, haircare, fragrance and men’s grooming products. Additionally, the retailer's beauty segment will roll out quarterly themed campaigns. The first, called “Big Little Rituals,” will celebrate community. Fittingly, it arrives as the retailer is launching the Browns Beauty Community, which will feature a network of experts that test and recommend products.
Off-White, a luxury label created by iconic designer Virgil Abloh, is debuting a beauty collection called Paperwork. It is launching with Solution, its first line of four genderless fragrances. The company said the line “invites all human beings to amplify their individuality and celebrate their potential, employing playful technology and a non-conformist ethos to empower personal expression, pushing everyone to expand its potential beyond traditional beauty.”The addition of beauty to the marketplace comes at a time when Farfetch is expanding its reach in luxury. Earlier in April, the company shared plans to invest $200 million into Neiman Marcus, and bring retail technology to the luxury fashion company’s digital properties.
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On the Move has the latest from Amazon, Lovesac and more.
This week, leadership is changing at GameStop, Sorel and Beautycounter. Meanwhile, key executives are departing at Amazon, Wayfair and Lovesac.
Here’s a look at the latest shuffles:
GameStop CEO fired
GameStop announced the termination of Matthew Furlong as CEO on Wednesday. A brief statement did not provide a reason for the firing.
With the move, Chewy founder and activist investor Ryan Cohen was named executive chairman of the video game retailer. Cohen will be responsible for capital allocation and overseeing management.
It came as the company reported a 10% year-over-year decline in net sales for the first quarter. Meanwhile, the company’s net loss improved by 62%.
In an SEC filing, GameStop further added this “We believe the combination of these efforts to stabilize and optimize our core business and achieve sustained profitability while also focusing on capital allocation under Mr. Cohen’s leadership will further unlock long-term value creation for our stockholders.”
Cohen was revealed as GameStop's largest shareholder when he disclosed a 10% stake in the retailer in 2020. GameStop went on to become a leading name in the meme stock rise of 2021.
Sorel president steps down
Mark Nenow is stepping down as president of the Sorel brand in order to focus on his health.
After rising to the role in 2015, Nenow spearheaded a transformation of Columbia Sportswear-owned Sorel from a men’s workwear brand to a fashion-focused brand that led with a women’s offering of boots, sandals and sneakers.
“Mark led the brand to sales of $347 million in net sales in 2022,” said Columbia Sportswear CEO Tim Boyle, in a statement. “His leadership has been invaluable to this company, and we wish him the very best.”
Columbia will conduct a search for Nenow’s replacement. Craig Zanon, the company’s SVP of emerging brands, will lead Sorel in the interim.
Beautycounter appoints interim CEO
Beautycounter appointed board member Mindy Mackenzie as interim CEO, succeeding Marc Rey. According to the brand, Rey and the board “mutually decided to transition to a new phase of leadership for Beautycounter.”
McKenzie, a former executive at Carlyle, McKinsey and Jim Beam, will lead the company as it conducts a search for a permanent CEO. Additionally, former Natura & Co CEO Roberto Marques will join Beautycounter’s board as chair.
As part of the transition, Nicole Malozi is also joining the company as chief financial officer. She brings experience from Tatcha, Nike, and DFS Group Limited.
Amazon’s North America fulfillment chief departs
Melissa Nick, a VP of customer fulfillment for North America at Amazon, will leave the company, effective June 16, CNBC reported. Nick joined the company in 2014, and oversaw a region that included nearly 300 fulfillment centers. After doubling its supply chain footprint during the pandemic, Amazon recently reorganized its fulfillment operations to take a regional approach, as opposed to a national model that often resulted in items shipping across the country.
Wayfair’s chief commercial officer to retire
Jon Blotner (Courtesy photo)
Steve Oblak will retire from the role of chief commercial officer at home goods marketplace Wayfair. With the move, Jon Blotner will be promoted to chief commercial officer.
"Steve has served as a critical part of our leadership team and played a pivotal role in Wayfair's growth, helping us grow from a $250 million business when he joined to $12 billion in net revenue today,” said Wayfair CEO Niraj Shah, in a statement. “He oversaw countless milestones, from helping to launch the Wayfair brand as we brought together hundreds of sites into a single platform, to launching new categories, business lines, and geographies while overseeing our North American and European businesses, to leading our debut into physical retail.”
Blotner previously oversaw exclusive and specialty retail brands, as well as digital media at Wayfair. Before joining the company, he served as president of Gemvara.com prior to its 2016 acquisition by Berkshire Hathaway.
Lovesac announces CFO transition
Furniture retailer Lovesac said Donna Dellomo will retire as EVP and CFO, and move to an advisory role, effective June 30. Dellomo was with Lovesac for six years.
Keith Siegner was appointed as the next EVP and CFO. He brings experience as CFO of esports company Vindex, as well as executive roles at Yum! Brands, UBS Securities and Credit Suisse.
Additionally, Jack Krause will retire from the role of chief strategy officer, effective June 30. His responsibilities will be divided between CEO Shawn Nelson and president Mary Fox.
“Since joining Lovesac, Jack has played an instrumental role in transforming the Company into a true omni channel retailer by helping expand our physical touchpoints and digital platform as we continue to disrupt the industry,” said Nelson, in a statement.
NRF adds board members
The National Retail Federation announced the addition of five new board members. They include:
- Marguerite Adzick, founder and CEO, Addison Bay
- Harley Finkelstein, president, Shopify
- Ian Kahn, partner, PwC
- Sharon Leite, CEO, Ideal Image
- Carrie Tharp, VP, strategic industries, Google Cloud