Net-A-Porter to reportedly shutter beauty business

Luxury e-commerce platform Net-A-Porter is reportedly closing its beauty business after more than a decade. 

Sources told WWD that its beauty category has been struggling for some time and that a pivot toward ultra luxury price points earlier this year was enacted as a "Hail Mary" effort to resurrect the business.

In November, Net-A-Porter set out a project called "New Luxury", sharing plans to double down on luxury brands that perform well and trim those that don't. As part of this, the online retailer is said to have reduced its beauty assortment "significantly" this past winter.

Brands still available online include Augustinus Bader, La Mer, Hourglass, Noble Panacea and 111 Skin, amongst others.

Net-A-Porter first entered the beauty category in 2013 with an edit of luxury makeup, skincare, haircare and fragrance brands, including Aesop, Chantecaille, Sarah Chapman, 3Lab, and more.

Following this, the online platform became the first retailer to stock Charlotte Tilbury’s eponymous makeup line in 2013, as well as Dr. Barbara Sturm's eponymous skincare line in 2014. Both brands have since been acquired by Spanish group Puig.

Colour cosmetics giants Ilia Beauty and Glossier also launched on Net-A-Porter before their respective forays into Sephora.

However, the luxury market has been experiencing a slowdown in sales of late, with a number of luxury giants such as LVMH, Burberry and Kering, all reporting challenges in recent trading.

As consumers tighten their belts amidst the cost-of-living crisis, there are concerns that people are losing interest in luxury goods.

It comes after fellow online retailer Farfetch closed its beauty division in August 2023 amid wider challenges at the business.

Matches was also placed into administration by Frasers Group in March this year, just two months after the British retail giant purchased the online retailer from Apax Partners for £52 million.

Despite this, luxury fashion resale platform Hardly Ever Worn It bucked the trend and ventured into beauty earlier this year, offering its B2B partners and individual sellers the opportunity to sell "never used" product that may not otherwise be sold due to small issues, such as marginally damaged packaging.

According to the brand, the newly established beauty channel had "gone off like a rocket" following its launch.

TheIndustry.beauty has contacted Net-A-Porter for comment.