Fresha invests in Yuv to provide AI-powered personalized hair coloring services
(Image credit: Yuv).
Fresha enters an investment and partnership with Yuv, a company specializing in AI-powered hair color technology. The beauty marketplace says the move should advance its ability to more precisely tailor global salon services to individual consumers. Financial terms of the deal are undisclosed.
Fresha boasts a network of over 120,000 beauty businesses worldwide, with salons making up a large portion of its partners. The brand stresses hair coloring is a significant revenue driver for salons but remains one of the most complex services to manage effectively.
“Investing in Yuv aligns with our mission to provide the most advanced tools to beauty professionals,” says 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 position Fresha as the most trusted and indispensable platform for beauty and wellness businesses worldwide, reinforcing our role as the industry leader.”
Integrating personalized service into e-retail
Yuv says hair coloring is a complex service that requires precision and consistency and that its technology allows salons to save personalized hair color formulas directly in customer profiles, ensuring a consistent and tailored experience for clients.
By integrating Yuv’s technology into its backend systems, Fresha aims to streamline its inventory management. The solution provides salons with real-time insights into product usage and automates restocking processes.
Fresha notes this reduces waste and lowers costs while ensuring that salons always have the necessary products on hand, optimizing efficiency and profitability.
“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,” says Zeqiri.
To date, Fresha has raised over US$185 million in venture capital funding, including a US$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 US, UK, 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 reportedly facilitated transactions worth over US$35 billion in gross merchandise volume.
“Partnering with Fresha provides us with the platform and reach we need to revolutionize the salon experience on a global scale,” says Francisco Gimenez, founder and CEO of Yuv.
“Together, we’re set to transform how professionals and clients approach hair coloring, creating a more efficient and personalized process that benefits everyone involved.”
Tailored hair care trending
With personalized beauty solutions featured prominently in trending launches this year, customizable hair care brand eSalon Custom Hair Care recently debuted its range of personalized shampoos, conditioners, leave-in conditioner sprays and hair masks “for all hair types,” with the option of home deliveries.
In other personalized hair care advances, Myavana, specializing in AI-driven personalized hair care, closed a US$5.9 million seed round led by Ulta Beauty’s Digital Innovation Fund. The capital injection will advance Myavana’s HairAI technology that uses microscopic hair analysis and advanced algorithms to “decode the intricacies” of hair texture, type and condition.
Personal Care Insights published a Special Report looking into other new R&D developments driving personalized beauty products, including product recommendations based on skin bacteria analysis, personalized “hair cycling” advice and high-definition AI skin analysis providing a “more nuanced picture of a person’s complexion.”
