Glossier has raised an $80 million Series E at a reported valuation of $1.8 billion. This round brings the company's total funding to date to more than $265 million.
WHO: Founded in 2014, Glossier is on a mission to inspire everyone to find joy and confidence in their personal beauty style. Glossier's 39 products—modern essentials spanning skincare, makeup, body, and fragrance—are priced between $12 and $60. The company has more than 5 million customers globally and has become a household name across generations, especially with Gen Z and millennials; two out of every five women between the ages of 18 and 34 in the United States have heard of Glossier.
WHY: The company will use the new funding to scale its online and offline experiences, taking an e-commerce-first approach to entering new international markets, and deepening its presence through dozens of new stores planned for the United States and globally.
IN THEIR OWN WORDS: "When Glossier launched as a digitally native beauty company, we were an anomaly in our industry, which has been slow to innovate beyond brick and mortar," Emily Weiss, Glossier CEO and founder, said in a statement. "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."
Glossier's new investor, Kelly Granat at Lone Pine, said that Glossier is an "iconic and era-defining beauty company," and that the firm wanted to play a role in bringing the brand's products and experiences to "people everywhere."
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