Follow us twitter facebook
Edition: Brazil
Click here to subscribe toour free weekly newsletter click here
Companies & industry

Glossier to expand further, following new fundraising

Glossier shows no signs of slowing down in its quest for global domination. The cult beauty company has announced that it has successfully raised $100 million in Series D funding to expand even further, following investment from Sequoia Capital, Tiger Global Management, Spark Capital, and existing investors Forerunner Ventures, Thrive Capital, IVP, and Index Ventures. The brand has also appointed a new Chief Financial Officer, in the form of the technology industry veteran Vanessa Wittman.

"We are building an entirely new kind of beauty company: one that owns the distribution channel and makes customers our stakeholders," said Founder and CEO of Glossier Emily Weiss in a statement. "Thanks to this direct relationship with our customers, we have access to endless inspiration for new products, experiences, and ways of building an enduring business - all while staying true to our core belief that beauty should be a celebration of individuality and personal choice."

Body Hero Duo by Glossier - Photo: © Courtesy of Glossier

Body Hero Duo by Glossier - Photo: © Courtesy of Glossier

"This is one of the most efficient direct-to-consumer businesses we’ve encountered, and with this new capital, we believe Glossier is well positioned to define the next era of the beauty industry," added Michael Abramson, Partner at Sequoia.

The move is the latest major milestone for the brand, which was founded in 2014 and went on to achieve rapid global success, quickly carving out a stellar reputation for effective skincare solutions with simple marketing and minimalist packaging. In 2018 the company - which now operates in the US, Canada, the UK, the Republic of Ireland, France, Denmark, and Sweden - saw its revenue surpass the $100 million mark, having raised $52 million in Series C fundraising last February. And earlier this month, the brand diversified significantly by unveiling ‘Glossier Play,’ a color cosmetics line that was two years in the making. Last year also saw the company open a permanent bricks-and-mortar store in LA as well as a New York flagship.

AFP/Relaxnews

© 2019 - Brazil Beauty News - www.brazilbeautynews.com

latest news
Focus
Luxe Pack New York rescheduled to September

Luxe Pack New York rescheduled to September

Amid the latest developments of the Covid-19 epidemic in New York and the USA, the Luxe Pack management team has decided to postpone further the event to September 15th and 16th, 2020. The venue is unchanged: Jacob K. Javits Convention Center (Hall 1B). With these new dates, the show will be almost concomitant with the MakeUp in (...)

read more
Experts’ views
Radical reinvention : Disrupting the next decade of beauty

Cosmetics Inspiration & Creation
Radical reinvention : Disrupting the next decade of beauty

Beauty is an ever-changing industry. Yet some changes make more of an impact than others. The more society changes, the more these changes cascade into the Beauty market. During the last MAD Cosmetics Innovations conference, organised by Premium Beauty News in Paris, Leila Rochet, Founder of Cosmetics Inspiration & Creation, (...)

read more

Features