Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Makeup brand Glossier valued at over $1 billion in latest funding round

share with twitter share with LinkedIn share with facebook
03/19/2019 | 02:17pm EDT
glossier1

(Reuters) - Glossier Inc, the online cosmetics company with a cult following among millennials, was valued at over $1 billion in a latest funding round led by Sequoia Capital, joining a clutch of billion-dollar makeup brands that are powered by the founders' social-media popularity.

The series D funding round, which raised $100 million, included some existing and new investors such as Tiger Global Management and Spark Capital, Glossier said.

Glossier's products have been worn by Beyonce, Chrissy Teigen, Miranda Kerr and other celebrities, and are known for their "millennial pink" packaging.

The company, launched by U.S. lifestyle blogger Emily Weiss in 2014, has grown to over 200 employees and last year doubled its online sales to $100 million.

Glossier was valued at $390 million after a $52 million funding round one year ago, according to PitchBook Data.

With nearly 2 million Instagram followers, the brand has grabbed eyeballs with ads that feature everyday people, products that cater to a variety of skin tones and emphasize a natural, "no-makeup" look.

The company earlier this month launched "Play," a brand that sells more colorful, flashier makeup, as part of efforts to expand its customer base.

Kylie Cosmetics, Pat McGrath Labs, Jessica Alba's Honest Beauty and Huda Beauty are some other brands with a valuation nearing or above $1 billion, according to media reports.

Glossier on Tuesday also said it had hired Vanessa Wittman, a former finance executive at Dropbox and Yahoo-owner Oath Inc, as its new chief financial officer.

"Beauty consumers increasingly want to interact with brands and purchase products online," said Megan Quinn, general partner at Spark Capital. "The industry's conglomerates are ill-equipped to retrofit their businesses to this new reality."

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar and Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -2.36% 6620 End-of-day quote.144.88%
BASE,INC. -4.45% 10950 End-of-day quote.523.93%
EURO / US DOLLAR (EUR/USD) -0.05% 1.16714 Delayed Quote.3.77%
THE GLOBAL LTD. 0.45% 222 End-of-day quote.-52.87%
share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
02:40aJapan shares end higher as U.S. stocks rebound, presidential debate eyed
RE
02:31aGreggs says outlook uncertain after better September
RE
02:18aWRAPUP 2-Global coronavirus deaths pass 'agonizing milestone' of 1 million
RE
02:12aBritish house price boom to fizzle out next year - Reuters poll
RE
02:00aAngolan energy giant made no money from oil in 2019 as debt bites
RE
01:56aChina needs a raft of reforms to make new economic strategy work - advisers
RE
01:55aNATIONAL BANK OF GREECE S A : Briefing on the u.s. foreign account tax compliance act (fatca) 2020
PU
01:54aChina needs a raft of reforms to make new economic strategy work - govt advisers
RE
01:53aAsian markets hunker down ahead of U.S. presidential debate
RE
01:40aFSC MEDIA RELEASE : FSC supports actuaries institute on income protection pdf
PU
Latest news "Economy & Forex"