LONDON, Oct. 21, 2024 /PRNewswire/ -- Fresha, the world's leading marketplace platform for beauty, wellness, and self-care, today announced a strategic investment and partnership with Yuv, a cutting-edge company specializing in AI-powered hair color technology. This collaboration sets the stage for Fresha to further cement its position as the go-to platform for salons and beauty professionals globally, offering unparalleled innovation and efficiency.
Fresha boasts a network of over 120,000 beauty businesses worldwide, with salons making up a large portion of its partners. Hair coloring is a significant revenue driver for salons but remains one of the most complex services to manage effectively. By integrating Yuv's groundbreaking technology, Fresha is set to revolutionize the hair coloring process-enhancing precision, streamlining inventory management, and delivering personalized and consistent services for clients. This strategic move further reinforces Fresha's position as an industry leader, providing salons and beauty businesses with the advanced tools they need to elevate both their service quality and operational efficiency.
Hair coloring is a complex service that requires precision and consistency. Yuv's technology allows salons to save personalized hair color formulas directly in customer profiles, ensuring a consistent and tailored experience for every client. For salon owners, this means they can offer a high-quality, customized service every time, which not only strengthens client loyalty and drives repeat business but also contributes to environmental sustainability.
Beyond enhancing the client experience, Yuv's technology significantly improves inventory management. Integrated into Fresha's backend systems, the solution provides salons with real-time insights into product usage and automates restocking processes. This not only reduces waste and lowers costs but also ensures that salons always have the necessary products on hand, optimizing efficiency and profitability.
By addressing these critical pain points with an innovative solution, Fresha expects to increase platform stickiness and deepen merchant loyalty. The integration of Yuv's technology further embeds Fresha into the day-to-day operations of its largest vertical, strengthening its competitive advantage in the beauty space.
"Investing in Yuv aligns with our mission to provide the most advanced tools to beauty professionals," said William Zeqiri, Founder and CEO of Fresha. "Hair coloring is a cornerstone of the salon business, and by addressing the complexities of this service, we're adding significant value to our platform. This partnership will transform how salons operate and positions Fresha as the most trusted and indispensable platform for beauty and wellness businesses worldwide, reinforcing our role as the industry leader."
"We're thrilled to join forces with Fresha," said Francisco Gimenez, Founder and CEO of Yuv. "Partnering with Fresha provides us with the platform and reach we need to revolutionize the salon experience on a global scale. Together, we're set to transform how professionals and clients approach hair coloring, creating a more efficient and personalized process that benefits everyone involved."
To date, Fresha has raised over $185 million in venture capital funding, including a $150 million Series C round in 2021 led by General Atlantic. Fresha boasts a network of over 120,000 merchants, with a strong presence in the United States, United Kingdom, Canada, Australia, New Zealand, and Europe. The platform's reach extends across 120 countries, where customers book tens of millions of appointments monthly. Fresha has facilitated transactions worth over $35 billion in gross merchandise volume, showcasing its significant impact on the global beauty and wellness industry.
About Fresha
Fresha is the leading marketplace platform for beauty and wellness trusted by millions of consumers and businesses worldwide. Fresha allows consumers to discover, book and pay for beauty and wellness appointments with local businesses via its marketplace, while beauty and wellness businesses and professionals use an all-in-one platform to manage their entire operations with an intuitive subscription-free business software and financial technology solutions. To learn more, visit fresha.com, download Fresha on the App Store and Google Play, or follow Fresha on Facebook and Instagram.
About YUV
Yuv is a beauty tech company focused on transforming the hair industry through innovation and sustainability. Its flagship product, the yuv Lab, is the world's first smart device designed for freelancers and salons, offering customizable hair color formulations at the touch of a button. Compact, affordable, and efficient, the yuv Lab enhances precision in professional hair color services. yuv's technology has been awarded two patents, and the company has developed the first refillable hair color cartridges, significantly reducing waste and promoting sustainability in the salon industry. By integrating advanced ingredient technology with eco-conscious solutions, Yuv aims to shape a more sustainable future for beauty professionals. For more information, visit www.yuv.co
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