For its Series C in early 2018, the round added $52 million in investment. In fall 2016, Glossier raised another $24 million in Series B financing. If funding had been tricky in Glossier’s initial seed rounds, it was getting easier. The money allowed them to expand office space, add forty employees, and launch a dozen products. As face wash does not cost a lot to make-the real cost is in the marketing-and beauty companies have the potential to scale, both of which are attractive to venture capitalists. ![]() Glossier’s were about 80 percent, according to more than one former employee. The gross profit margins for beauty are high. Weiss was always good at selling herself, but she had gotten better at selling her sharpened vision of her company’s plan. Weiss was good in the room, and that early on, a lot of fundraising was about getting people to believe in her potential. 'Glossy: Ambition, Beauty, and the Inside Story of Emily Weiss's Glossier' by Marisa Meltzer.įrom a financial standpoint, Glossier was continuing to gain steam-and gaining the attention of venture capital firms as it pursued its next rounds of funding. Weiss called the flagship store “Adult Disneyland.” You might as well call it a propaganda machine. Another room had a red banquette in the shape of lips. One room was called the wet bar and was set up like a women’s public restroom with skincare products lined up next to the sink and large mirrors on the wall. The flagship was built to incite maximum Instagram engagement. Weiss viewed the stores as a physical unboxing that needed to please and surprise customers. And it’s success had been rapid: from a blog in 2010 to product launch in 2014 to now on the verge of a $1 billion valuation. The next morning Williams posted a snapshot of the night to her Instagram account with the caption “Bossed up with It felt like a microcosm of the company’s success. There were magazine editors there and Glossier employees, but the highlight in terms of celebrity wattage was when the crowd parted so Weiss could more easily lead Serena Williams and her husband, the Reddit cofounder Alexis Ohanian, on a tour of the space. The air was lightly scented with Glossier You, and the mood was buoyant by design at the opening party in November 2018 for Glossier’s first permanent Manhattan flagship store. ![]() The intern on The Hills and beauty blogger turned beauty entrepreneur and Wall Street wunderkind greeted VIP guests as they walked up a red quartz staircase to find five-foot-tall tubes of Boy Brow ready to pose with and a party photographer ready to capture it all. Here, an exclusive excerpt from Meltzer’s book, Glossy: Ambition, Beauty, and The Inside Story of Emily Weiss’s Glossier.Įmily Weiss was wearing a tuxedo with no shirt underneath. (Perhaps even more painful for Weiss, her products would be sold at discount stores such as TJ Maxx.) During the pandemic, stores were closed, employees were laid off, there were allegations of a toxic and racist work culture, and Weiss would see a spoof of her Into the Gloss blog, with an Outta the Gloss Instagram grievance account. What took place over the next seven years, as it raised more and more money (reached a $1.7 billion valuation) and gained more and more fans - and see a flagship store open in New York City with celebrity guests, see excerpt below - was nothing short of spectacular. In Glossy: Ambition, Beauty, and The Inside Story of Emily Weiss’s Glossier, journalist Marisa Meltzer examines Glossier, a beauty brand that Forbes once described as “one of the most disruptive brands in beauty.” Known as much for its $18 Boy Brow pomade (for your eyebrows) as its initial direct-to-consumer approach and sophisticated and canny approach to advertiser and influencer marketing, Glossier burned through the zeitgeist starting in 2014 with a mere four products. The beginning and, some say, end of an era. ![]() The story behind it all - how a blogger became a billionaire, how a beauty brand capitalized on millennial pink, how one young woman leveraged her coolness all the way to Silicon Valley and back, how it all went awry - has been a topic of business leaders, beauty editors, and makeup fans everywhere. Which is to say, the beauty brand founded by former The Hills intern and Into the Gloss blogger Emily Weiss was a privately owned startup worth $1 billion. Once upon a time, Glossier was a unicorn.
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