beauty

Glossier scores $80 million funding round

Glossier is re-entering stores with a fresh round of funding, which gives the company a $1.8 billion valuation, per The Business of Fashion.
article cover

· less than 3 min read

Stay up to date on the retail industry

All the news and insights retail pros need to know, all in one newsletter. Join over 180,000 retail professionals by subscribing today.

After a year of makeup-free isolation, beauty is back—and Glossier is ready.

The beauty brand landed an $80 million Series E funding round, which gives the company a $1.8 billion valuation, according to The Business of Fashion. The company first became a unicorn in March 2019.

  • Lone Pine Capital led the round; existing investors including Forerunner Ventures and Sequoia Capital also participated.

About that about-face...Glossier’s fresh capital will fuel its brick and mortar comeback. After deciding to permanently close all its locations during the pandemic, the company changed its mind—we all miss shopping in person, right?—and last month announced its global return to stores.

  • Glossier will begin to reopen its doors in August.
  • “Customers want to move fluidly between immersive and personalized e-commerce and retail experiences,” CEO and founder Emily Weiss said in a statement.

Glossier is betting on tailored retail spaces, like a new 4,500-square-foot mushroom-themed store in Seattle, plus stores in Los Angeles and London. Still, e-comm makes up 80% of Glossier’s revenue, per BoF.

How do you do, fellow kids? Maybelline ranked first among Gen Z’s favorite makeup brands, while Dove led the skincare category, according to a report this week. Glossier didn’t make either list this year (though it did in 2019), so we’re going to assume some of the $$ will go to winning over Zoomers.—JG

Stay up to date on the retail industry

All the news and insights retail pros need to know, all in one newsletter. Join over 180,000 retail professionals by subscribing today.