Recently, according to WWD, Net-a-Porter’s beauty business is facing significant challenges. The luxury e-commerce platform’s beauty arm has struggled for some time, leading to a project called “New Luxury,” spearheaded by market director Libby Paige. The project aimed to focus on high-performing luxury brands like Liberowe, Sasuphi, and Veronica De Piante while cutting those that underperformed.
As part of this shift, Net-a-Porter significantly reduced its beauty offerings in the winter of 2023, maintaining a curated selection of ultra-luxury items. These include high-ticket products such as the $2,695 Lyma Laser Starter Kit and $1,900 Shani Darden + Déesse Pro LED Light Mask, alongside prestigious brands like La Prairie, Le Labo, Augustinus Bader, and Sisley Paris.
The company’s challenges are not limited to its beauty division. Its parent company, Compagnie Financière Richemont, recently called off a major deal to sell Yoox Net-a-Porter to Farfetch and Alabbar. This decision followed Farfetch’s financial struggles and its subsequent acquisition by South Korea’s Coupang for $500 million. Farfetch had previously shuttered its beauty division, reflecting broader difficulties in the luxury e-commerce market.
Net-a-Porter originally entered the beauty space in 2013 with its “The Quintessential Edit,” offering a mix of luxury brands like Aesop and Chantecaille. It quickly became a launchpad for prominent brands such as Charlotte Tilbury and Dr. Barbara Sturm, both of which have since been acquired by Puig. However, the luxury e-commerce space has seen significant turbulence, with other players like Matches also facing financial difficulties.
