Update: Think back to ten months ago, and you might recall hearing some major news about Glossier getting one step closer to total beauty-world domination. Even so, few expected that the empire of the millennial-focused brand-that-could would soon grow even bigger — and yet that plan has officially been kicked into high gear.
Four days ago, a screenshot of a company-wide email sent from founder and CEO Emily Weiss appeared on the brand's Instagram with a huge announcement: "Dear extended Glossier team, I’m writing to share some exciting news with you: We’ve completed a Series C fundraise, which means that our loyal venture capital partners have chosen to invest an additional $52 million dollars in our three-year-old company. Why? Put simply: they deeply believe in us, because we deeply believe in you.”To accommodate the growing company, Glossier is moving to a bigger headquarters, plus launching retail stores, international shipping, and many more products (including two more categories).
The press release mentions that the massive expansion will come from the State of New York's economic development agency, Excelsior Jobs Program, which will fund the company’s expansion with $3 million in performance-based tax credits.
Glossier founder Emily Weiss posted a response to the news on her lifestyle site, Into the Gloss, earlier today. She wrote that this isn’t the first time she’s asked to borrow money to build the Glossier empire, but apparently, third time's the charm. According to Weiss, Glossier recently filed a $24 million Series B ( Forbes reports it “among the largest rounds raised by a woman CEO in recent years”) — solidifying the cult brand's customer and market value. "Very few people told us no," Weiss said. "This cash infusion will help us see through our vision of Glossier becoming a truly global community."
Most recently, the trendy brand dropped its first cream blush, a rich face cream, and a clear version of its famous Boy Brow. That was a lot of excitement, as is the perfume we're anticipating in our near future, but now we have so much more to look forward to. Hold onto your hats Glossier fans: This is about to be a long, pink ride.
