Cassandra Grey has bought back Violet Grey, alongside a new business partner who will be stepping in as ceo.
, with help from private equity veteran Sherif Guirgis, who is helming the company as chairman, chief executive officer and co-owner.of the deal, were not disclosed, though Grey told WWD in an exclusive interview that it was always in the cards.
Grey will act as chairman and artistic director of Violet Lab, Violet Grey’s new brand development arm. “We’ve been able to get behind brands over the years,” Grey said. “But we’ve never had that infrastructure. This is about organizing that core competency and being able to best serve them through incubation and acceleration.”
All of those factors, Brown posited, drive customer acquisition and retention. “We always talk about it as garnering trust,” she said. “You can sell anybody anything once, you can make anything look sexy once. When they keep coming back, that’s how we measure the success of a launch.” That mandate comes at a challenging time for the luxury market, and beauty is not an exception. Earlier this month, Net-a-porter revealed it was winding down its in-house beauty operations and will debut an affiliate model with brands next year.
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