LONDON, Oct. 21, 2024 /CNW/ — Fresha, a leading global platform for beauty, wellness, and self-care, has announced a strategic investment and partnership with Yuv, an innovative company focused on AI-driven hair color technology. This collaboration aims to strengthen Fresha’s position as a preferred platform for salons and beauty professionals worldwide, bringing new levels of innovation and efficiency.
Fresha connects over 120,000 beauty businesses globally, with salons representing a significant portion of its network. Hair coloring is a major source of revenue for these salons but can be complex to manage. By incorporating Yuv’s advanced technology, Fresha plans to transform the hair coloring process. This integration will improve precision, streamline inventory management, and offer personalized services to clients.
Yuv’s technology enables salons to save custom hair color formulas in customer profiles, ensuring a consistent experience for each client. This capability allows salon owners to provide high-quality, tailored services, enhancing customer loyalty and encouraging repeat business. Additionally, it supports environmental sustainability by reducing waste.
The partnership also improves inventory management. Yuv’s system, integrated into Fresha’s backend, gives salons real-time data on product usage and automates restocking. This reduces waste and costs while ensuring salons have the necessary products available, boosting efficiency and profitability.
By solving these key challenges, Fresha aims to enhance user engagement and loyalty among its merchants. The addition of Yuv’s technology will further integrate Fresha into the daily operations of its main business area, solidifying its competitive edge in the beauty industry.
William Zeqiri, Founder and CEO of Fresha, stated, “Investing in Yuv aligns with our goal to equip beauty professionals with the best tools. Hair coloring is crucial to salon operations, and by simplifying this service, we add significant value to our platform. This partnership will change how salons operate and position Fresha as the most trusted platform for beauty and wellness businesses globally.”
Francisco Gimenez, Founder and CEO of Yuv, expressed excitement about the collaboration: “Teaming up with Fresha gives us the platform and reach needed to change the salon experience worldwide. Together, we will make hair coloring more efficient and personalized, benefiting professionals and clients alike.”
So far, Fresha has raised over $185 million in venture capital, including a $150 million Series C round in 2021 led by General Atlantic. The platform has a strong presence in the United States, United Kingdom, Canada, Australia, New Zealand, and Europe, serving customers across 120 countries. Fresha facilitates tens of millions of appointments monthly and has handled over $35 billion in gross merchandise volume, demonstrating its significant influence on the global beauty and wellness market.
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