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. Advanced investors IVP and Index Ventures led the financing. The New York-based business enterprise — which advanced from the famous blog Into the Gloss using founder and CEO Emily Weiss — began promoting its makeup at the outset. However, it has already brought body and perfume products, bringing its total variety of offerings to 22. One of the organization’s top famous products is a mascara-like eyebrow filler called Boy Brow. Among its latest is a stable version of its fragrance, You.
The business enterprise says it launches something new every six weeks, on average, and spends a 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 expand from $433 billion today to $750 billion in 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 much revenue last year as in 2016. It opened workplaces in London and Montreal after quietly acquiring a small Canadian virtual approach studio called 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 construction in its places of work. Even without a street-stage window, it generates extra income revenue in keeping with rectangular feet compared to the average Apple store. Weiss informed New York Magazine in a glowing cover tale about Glossier that ran every 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 to make it less complicated for them to pick out a shade.
The agency also prides itself on the numerous approaches it takes to keeping its communication channels to its clients substantial open. Beyond its popular blog, Glossier uses Instagram in addition to any brand. In late 2016, it started testing a representative program to begin paying the maximum efficiency of its “Glossier Girls”—formerly unpaid emblem evangelists—which it says has grown surprisingly.
