Shiseido is at it again this time, looking to expand e-commerce capabilities with an investment in Violet Grey said to be between $5 million and $10 million according to WWD.
WHO: Violet Grey was founded in 2013 by Cassandra Grey. The company has a brick-and-mortar presence on Melrose Place in Los Angeles with a curated assortment of products tested and approved by Hollywood’s leading hairstylists, skincare experts, and makeup artists. The brands are sold online.
Shiseido Americas Corporation is a subsidiary of Tokyo-based Shiseido Company, Limited. Shiseido Americas’ portfolio of prestige beauty brands includes Shiseido, NARS, Clé de Peau Beauté, bareMinerals, Laura Mercier, and several prestige fragrance brands including Issey Miyake, Narciso Rodriguez, and Dolce & Gabbana. In 2017, Shiseido Americas acquired MATCHCo, a technology company, JWALK, a creative agency, and Giaran.
IN THEIR OWN WORDS: “We have to gain our own capabilities, we have to study more, and that’s exactly why we have decided to look into an e-commerce company Violet Grey,” Shiseido president and chief executive officer Masahiko Uotani said in a presentation about Shiseido’s three-year corporate strategy in early March. “We decided to take a minority stake in this e-commerce company Violet Grey so we would be able to gain these e-commerce capabilities on our own.”
- Shiseido takes a minority stake in Violet Grey.
- Terms of the deal were not disclosed.
- According to WWD, industry experts indicated the investment was between $5 million and $10 million, and that Violet Grey does around $5 million in sales.
- Last year the business was said to have inked a deal to sell beauty products on Amazon for a commission of between 20 and 30 percent.
Photo: Violet Grey via Facebook