Glossier arrives at Sephora in the US and Canada
In early 2023, Glossier will make its debut in Sephora stores in the United States and Canada. The American cosmetics brand will also be available on the LVMH-owned retailer's online store and app in the United States.
While this arrival at Sephora in North America may foreshadow broader international expansion in the future, it is primarily a shift in Glossier's distribution strategy. Founded in 2014 by Emily Weiss, Glossier had previously sold its products almost exclusively through direct sales. Initially through its online store, which has existed in France since 2018, and subsequently through its own boutiques.
But in a fast-evolving cosmetics market, Glossier seems to have lost some of its appeal, and the coronavirus pandemic only further disrupted its business model. In fact, the health crisis forced the company to shut down all its stores and lay off all its employees who worked there in 2020. In early 2022, the company was again forced to lay off a third of its workforce.
Earlier this year in May, the brand's founder Weiss announced her decision to step down as CEO, handing the position over to Kyle Leahy, who joined the cosmetics brand in November 2021 as its first chief commercial officer.
Despite all the turmoil, Glossier seems to be getting back on track. A year ago the brand opened a store in Seattle, and has since set up shop in Los Angeles, London and Miami. The brand has even announced upcoming store openings in Washington DC, Atlanta, Philadelphia and Brooklyn.
In the summer of 2021, Glossier raised $80 million (€72 million) in a Series E funding round led by Lone Pine Capital, a capital injection that brought the company's total valuation to $1.8 billion.
Copyright © 2022 FashionNetwork.com All rights reserved.