Glossier introduced on Wednesday that it has raised $80 million in Series E funding. The spherical – which was led by Lone Pine Capital with participation from current traders Forerunner Ventures, Index Ventures, IVP, Sequoia Capital, and Thrive Capital – values the millennial-focused magnificence firm at $1.8 billion. In a newly-issued launch, the 7-year-old firm states that it’ll “proceed to scale its on-line and offline channels globally as it builds the world’s no 1 vacation spot for magnificence discovery,” with founder Emily Weiss saying that “magnificence discovery more and more begins on-line as individuals search for inspiration from pals and strangers alike, and prospects need to transfer fluidly between immersive and personalised e-commerce and retail experiences.” And that’s exactly “the long run we have now all the time been constructing for,” she famous.
The firm will use a portion of the brand new funding to construct out its bodily footprint following the everlasting closure of its brick-and-mortar outposts in gentle of the pandemic. Last month, Glossier introduced that it’s planning to open three new shops in Seattle, Los Angeles, and London later this yr. Beyond that, Glossier revealed this week that whereas it should take “an e-commerce-first strategy to coming into new worldwide markets,” it’s will even “deepen its presence by dozens of recent shops deliberate for the United States and globally in the approaching years,” noting that in 2019, alone, greater than 1 million individuals visited its two everlasting and 5 non permanent shops, a nod to its perception that retail places have a hand in “constructing the 3D world of Glossier and fostering significant connections with and between prospects.”
“Glossier is resonant throughout generations and geographies, not just for its merchandise” – practically 40 perfume, physique, make-up and skincare merchandise that promote for between $12 and $60 – “however for the sense of connection and belonging the model conjures up,” Kelly Granat, Portfolio Manager at Lone Pine Capital, stated on Wednesday. “The neighborhood that’s shaped round Glossier’s strategy to magnificence, one which champions particular person freedom and alternative, has made Glossier’s direct relationship with its prospects all of the extra highly effective.”
“This is already an iconic and era-defining magnificence firm,” Granat additional asserted. “We’re excited to play a job in bringing Glossier experiences and merchandise to individuals in every single place.”
As for what Glossier may have in the works on the bodily retail entrance, as TFL first reported in May, the buzzy magnificence model filed a handful of purposes for registration with the U.S. Patent and Trademark Office for “Glossier Alley.” The proposed makes use of of the trademark, as cited in the purposes that counsel for Glossier filed this spring: The “provision of meals and drink, espresso store, café, and restaurant companies,” amongst different items/companies, such as “retail retailer companies that includes cosmetics, [and] make-up,” “all-purpose carrying baggage; clutches, shoulder baggage, journey baggage, [and] purses;” and “attire, clothes, footwear; hats; caps, scarves, [and] belts.”
