Glossier has raised $80 million in Series E funding in a round led by Lone Pine Capital, along with participation from existing investors Forerunner Ventures, Index Ventures, IVP, Sequoia Capital and Thrive Capital. The retailer will use the investment to scale its global online and offline channels.
The funding comes in time to help Glossier return to brick-and-mortar after it closed all stores during the pandemic, starting with three permanent physical locations in Seattle, Los Angeles and London. Glossier will continue to scale its offerings through an ecommerce-first approach to entering new international markets. However, the retailer still has dozens of new stores planned for the United States and globally in the coming years.
“When Glossier launched as a digitally native beauty company, we were an anomaly in our industry, which has been slow to innovate beyond brick-and-mortar,” said Emily Weiss, Founder and CEO of Glossier in a statement. “Now, nearly seven years into Glossier’s journey, our strategy and the expectations of beauty consumers everywhere are aligned: beauty discovery increasingly begins online as people look for inspiration from friends and strangers alike, and customers want to move fluidly between immersive and personalized ecommerce and retail experiences. This is the future we’ve always been building for.”