In September, Cassandra Grey reacquired Violet Grey, the Los Angeles-based online and better known physical store beauty retailer she founded in 2012. With private equity investor Sherif Guirgis — previously of Lion Capital, Apollo Global Management and Main Street Advisors — she bought back the business, which she sold to Farfetch in 2022. With the deal, Farfetch entered the $446 billion global beauty market, gaining access to Grey’s curated product selection, editorial content and engaged community.
Following the acquisition by Farfetch, Grey continued her involvement in Violet Grey as a company chair and took on a role as Farfetch’s global beauty advisor. She also co-founded the beauty division within Farfetch-owned New Guards Group, a brand incubator designed to support and scale emerging brands. However, in 2023, Farfetch closed its beauty marketplace, casting uncertainty over Violet Grey’s future within the group. Meanwhile, in 2024, Net-a-Porter announced it will transition its beauty business from a wholesale model to an affiliate model in the following year, signaling sales troubles.
With the buyback, Grey now sits on the executive board of Violet Grey, guiding the company’s creative vision, retail expansion and revenue growth. Co-owner Guirgis has taken on the role of chairman and CEO. Grey also assumes the role of chairman and artistic director of Violet Labs, Violet Grey’s brand development arm.
Grey’s vision for Violet Grey’s growth from here is multifaceted. Plans include opening up to 20 new stores over the next three to four years, with each featuring a committee-vetted selection of products. Grey underscored the company’s ongoing commitment to trust and quality. Violet Grey last reported reported annual revenue in 2022, citing $20 million.
In addition, Grey is focused on offering a “white glove e-commerce” experience, enhancing the online shopping journey by bringing the feel of Violet Grey’s personalized service to the digital space. “There’s so much new technology to take advantage of to serve the customer,” Grey said. Grey declined to specify the technologies the company is exploring but noted TikTok as a driving force for beauty discovery.
Grey’s team is also setting its sights on international expansion, addressing the demand from customers outside the United States — specifically in Europe and Asia — who have expressed interest in accessing Violet Grey’s offerings. The company sold internationally when owned by Farfetch.
With a fresh round of undisclosed funding secured from Guirgis and other private investors in September, Grey and Guirgis aim to drive Violet Grey forward, reinvesting in the company’s core values of curation and quality. Violet Labs will play a significant role, incubating emerging brands and fostering innovative products that align with Violet Grey’s standards. “One of the most fulfilling parts of my entrepreneurial plight is being able to tell founder stories and introduce their creations … to our world of curated beauty enthusiasts,” Grey said.
In this new era, Grey’s leadership is focused on creating a trusted beauty experience that stands out in a competitive market. “We built the brand, and now, we’re going to build the business,” she said.
Editor’s note: This story formerly stated that Sarah Brown now serves as Violet Grey’s chief brand officer. This was omitted, as Sarah Brown is no longer with the company.
