Fresha, the leading platform for beauty and wellness services, has announced a strategic investment and partnership with Yuv, a company specialising in AI-powered hair colour technology. This collaboration aims to enhance the experience of salons and beauty professionals worldwide by integrating innovative solutions that streamline hair colouring processes.
With a network of over 120,000 beauty businesses globally, including a significant number of salons, Fresha is keen to strengthen its market position. Hair colouring, a complex yet crucial service for salons, is often challenging to manage. By integrating Yuv’s cutting-edge technology, Fresha aims to revolutionise the hair colouring process, enhancing precision, optimising inventory management, and delivering personalised services for clients.
Yuv’s technology allows salons to save tailored hair colour formulas directly in customer profiles, ensuring a consistent experience for every client. This feature not only strengthens client loyalty and drives repeat business but also contributes to environmental sustainability by reducing waste. For salon owners, the ability to offer high-quality, customised services enhances their competitive edge in the bustling beauty industry.
In addition to improving client experience, Yuv’s technology offers significant benefits for inventory management. Integrated into Fresha’s backend systems, this solution provides salons with real-time insights into product usage, automating the restocking process. As a result, salons can lower costs and ensure they have the necessary products on hand, optimising operational efficiency and profitability.
This strategic investment aims to address critical pain points faced by salons, enhancing Fresha’s platform stickiness and deepening merchant loyalty. The integration of Yuv’s technology further embeds Fresha into the daily operations of its largest vertical, solidifying its competitive advantage in the beauty space.
William Zeqiri, Founder and CEO of Fresha, stated, “Investing in Yuv aligns with our mission to provide the most advanced tools to beauty professionals. Hair colouring 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.”
Francisco Gimenez, Founder and CEO of Yuv, expressed enthusiasm about the partnership: “We’re thrilled to join forces with Fresha. Partnering with Fresha provides us with the platform and reach we need to revolutionise the salon experience on a global scale. Together, we’re set to transform how professionals and clients approach hair colouring, creating a more efficient and personalised process that benefits everyone involved.”
Fresha has raised over $185 million in venture capital funding to date, including a $150 million Series C round in 2021 led by General Atlantic. With a strong presence in countries such as the United States, United Kingdom, Canada, Australia, New Zealand, and across Europe, Fresha’s platform facilitates transactions worth over $35 billion in gross merchandise volume, showcasing its significant impact on the global beauty and wellness industry.
With this new partnership, Fresha continues its commitment to innovation and excellence, promising to enhance the salon experience for beauty professionals and their clients alike.
