The company is doubling down on its direct-to-consumer model as it prepares to re-enter – and expand in – brick-and-mortar retail.
In a new round of funding, the digitally native beauty brand has raised $80M in Series E funding, bringing the company’s valuation to $1.8bn, according to Women’s Wear Daily. This round of funding was led by Lone Pine Capital, along with participation from existing investors Forerunner Ventures, Index Ventures, IVP, Sequoia Capital and Thrive Capital.
The company has also announced that it will continue to scale its online and offline experiences, taking an e-commerce-first approach to entering new international markets, and expanding its presence through dozens of new stores that are planned for the US, and around the world in the coming years.
“This is just the beginning: we have an exciting retail roadmap to bring Glossier to many more places, including our home base of New York City, in 2022,” Founder and CEO Emily Weiss wrote on her blog. “Our first three stores are the culmination of everything we’ve learned from our prior offline experiences, and like these experiences, they look at each city through Glossier-coloured glasses. Each of these stores is designed to inspire everyone to find joy and confidence in their personal beauty style, with a customer journey centred around self-discovery and belonging. People first, products second.”
