Glossier secures new funding round ahead of return to physical retail
Digital-first beauty company Glossier has raised $80 million in Series E funding as it seeks to scale its online channels and re-open a number of physical stores.
Founded in 2014 by Emily Weiss, the direct-to-consumer business, which spans skincare, makeup, body and fragrance, is seeking to position itself as the world’s #1 destination for beauty discovery.
Despite closing all retail locations early in the global pandemic, the company continued to grow in 2020 and is now also planning a return to physical retail with the re-opening of three all-new, permanent stores in Seattle, Los Angeles and London later this year, with more to follow.
The first three new stores will offer shoppers a “culmination of everything” that Glossier has learned from its prior offline experiences.
In London, Glossier's new permanent store will build on the success of its former Covent Garden pop-up, which had served as its "most successful temporary store of all time," prior to closing amid the pandemic.
Stores will be designed to inspire all shoppers “to find joy and confidence in their personal beauty style, with a customer journey centred around self-discovery and belonging. “People first, products second,” Weiss added.
Stores will also offer an enhanced experience for Glossier employees founded on authenticity, integrity, inclusion, equity, and empathy.
“We owe a debt of gratitude to our former retail colleagues who shared with us, through many hours of conversations last year, how we can improve the overall experience for our retail team—and most importantly, how we can ensure that we’re consistently creating a safe and inclusive environment for all Glossier retail team members,” Weiss added.