Women-Owned Beauty Company Glossier Raises $80 Million In Series E Funding
Boy Brow, Balm Dot Com Trio and of course….lip gloss are some of the products that made customers fall in love with beauty company Glossier Inc. With their recent funding success, Glossier shared they are prepping to reveal so much more!
Most recently, Glossier Inc. has raised $80 million in Series E funding, bringing the company’s total venture capital backing to more than $265 million. Series E funding is an opportunity for companies to remain private longer and reach new opportunities. Very few companies progress to this stage of funding and usually decide to based on unexpected factors that weren’t accounted for earlier in business plans.
As storefronts closed last year, consumers shifted online for their beauty buys. This forced companies to push their e-commerce and direct-to-consumer (DTC) efforts further to continue reaching their target audience. Being a women-owned, digital-first beauty company, Glossier was ahead of its time when it first launched in 2014. Additionally, focusing on the people who power the brand has paid off tremendously in the long run.
Glossier prides themselves on creating products their consumers express interest in. Years later, it built an Instagram following of 2.7 million and counting and a devoted beauty site, Into the Gloss, where brand lovers share the products they love, and source for inspiration and information. As a thought-leader in the beauty industry, Glossier continues to invest in their loyal community made up of mostly gen z and millennials in the digitally-dominant retail environment in which they attribute most of their success to.
Much of the funding will help build out the company’s e-commerce initiatives as they look to expand to international markets. Also, customers can expect three permanent stores in Seattle, Los Angeles and London later this year. The stores will invite beauty lovers into the world of Glossier, offering an immersive shopping experience and a people-centric approach.
Founder and CEO, Emily Weiss shared “Now, nearly seven years into Glossier’s journey, our strategy and the expectations of beauty consumers everywhere are aligned: beauty discovery increasingly begins online as people look for inspiration from friends and strangers alike, and customers want to move fluidly between immersive and personalized e-commerce and retail experiences. This is the future we’ve always been building for.”
As a digital leader in the beauty industry, Glossier is a company that takes admirable risks. Check out their fragrance available only online here: Glossier You.
