Glossier has emerged from the pandemic with its eyes set on retail expansion. In order to get there, the beauty brand has shored up more capital.
A new $80 million investment values the company at $1.8 billion post-money, sources confirmed to Business of Fashion. The round was led by Kelly Granat at Lone Pine Capital, which has also invested in SweetGreen and Farfetch. Forerunner Ventures, Index Ventures, IVP, Sequoia Capital and Thrive Capital, each of which are existing investors, also participated in the round. The company also secured a debt facility from JP Morgan.
The funding round comes off the heels of two recent announcements in June. First, Alexandra Weiss, who had been with the company since 2015, was promoted to CMO after serving as the senior vice president of marketing. Glossier then announced a return and expansion of its physical retail presence after shuttering locations during the pandemic, which a cash infusion will help fuel.Businessoffashion