Glossier, the almost 4-year-vintage, direct-to-customer beauty agency, has landed $52 million in Series C investment in what it describes as a heavily oversubscribed round. The financing became led through in advance investors IVP and Index Ventures.
The New York-based business enterprise — which advanced out of the famous blog Into the Gloss by using founder and CEO Emily Weiss — began promoting its personal makeup at the outset, however, has extra currently brought body and perfume products, too, bringing its total variety of offerings to 22. One of the organization’s maximum famous products is a mascara-like eyebrow filler called Boy Brow. Among its latest: a stable version of its fragrance, You.
The business enterprise says it launches something new every six weeks, on average, and that it spends a whole lot of time working on its formulas. (A spokesperson tells us Glossier spent 15 months growing a new $24 exfoliant.) But Glossier is just as famous for emblem-building and its capacity to develop purchaser cognizance in an enormously crowded global splendor industry that’s anticipated to develop from $433 billion today to $750 billion by means of 2024, in line with one estimate.
The one hundred fifty-character organization doesn’t disclose its revenue numbers, however, it tells us Glossier noticed three times as a lot of revenue last year as in 2016. It additionally opened workplaces in London and Montreal, after quietly acquiring a small Canadian virtual approach studio referred to as Dynamo. (One of Dynamo’s co-founders, Bryan Mahoney, is now Glossier’s CTO.)
And Glossier spread out a sixth-floor showroom inside the identical SoHo constructing in which its places of work are located. Even without a street-stage window, it generates extra income revenue in keeping with rectangular foot than the average Apple store, Weiss informed New York Magazine in a glowing cover tale about Glossier that ran ultimate month. (The story additionally cited Weiss because of the “millennials’ Estée Lauder.”)
Much of the agency’s magic appears to be rooted in simplicity. Instead of providing 15 sunglasses of lipstick, as an example, it tells its customers it has developed the most universally flattering pink lipstick as a way to make it less complicated for them to pick out a shade.
The agency additionally prides itself on the numerous approaches it keeps communique channels to its clients huge open. Beyond its popular blog, Glossier makes use of Instagram in addition to any brand, and in overdue 2016, it started out testing a representative program to begin paying the maximum efficiency of its “Glossier Girls” — formerly unpaid emblem evangelists — which it says has grown surprisingly.
The reps acquire strengthen observe of latest merchandise; they’re also frequently requested to participate in feedback periods, they’ve direct get admission to to Glossier’s group, and they’re invited to and host their own community activities, in addition, to talking approximately Glossier’s merchandise on social media. (In addition, to get entry to to Glossier candies, they each have their personal touchdown pages on Glossier.Com wherein followers can study greater approximately them.)
Weiss spoke at an occasion hosted by way of this editor remaining year, in which she referred to that in this day and age, now not most effective is the customer always proper, but way to social media — whether or not it’s a product review on Amazon or an Instagram publish — that consumer “has a microphone and she’s attaining 50, 500, 5,000 or 500,000 of her nearest and dearest pals and is in a position to speak approximately her possibilities.”
It’s why Glossier is so laser centered on “transparency” and “voice,” Weiss had defined.
“We like to think that every time we talk to [our customer] via captions on Instagram or via email or through the copy on the site, that we’re writing textual content messages to a pal.” For Glossier, “staying proper to that voice has created a whole lot of loyalty and agree with our customers.”
It reputedly has Glossier’s buyers feeling very loyal to the business enterprise, too. With its most recent round, Glossier has now raised $86 million from them altogether.
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