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Glossier raises $80 million to scale brick-and-mortar expansion, physical stores an essential part of DTC formula

Wednesday, Jul 14, 2021

Makeup brand, Glossier, started out as a digital-first beauty company. The makeup retailer has made waves in the industry, both online and offline. 

The company has recently raised $80 million in funding from Lone Pine Capital to help expedite their plans for future growth. The direct-to-consumer business will grow its physical footprint to build the world’s #1 destination for beauty. 

Glossier plans to open stores in Seattle, Los Angeles and London later this year. The brand is known for its immersive store designs and pop-up shops that have emphasized their people-first approach to beauty. 

In 2019, the beauty brand had over 1 million people visit their temporary and permanent stores. Brick-and-mortar elements are essential to Glossier’s business model, in order to promote discovery and create immersive experiences. 

“Glossier is resonant across generations and geographies, not only for its products, but for the sense of connection and belonging the brand inspires. The community that’s formed around Glossier’s approach to beauty, one that champions individual freedom and choice, has made Glossier’s direct relationship with its customers all the more powerful. This is already an iconic and era-defining beauty company, and we’re excited to play a role in bringing Glossier experiences and products to people everywhere,” said Kelly Granat, Portfolio Manager at Lone Pine Capital. 

Source: Glossier – Press Release
Photo Credit: Boston Globe

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Article Topics: Brick and Mortar | Glossier | Growth | Retail

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