The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Glossier has raised $100 million in a funding round led by Sequoia Capital, it said on Tuesday, as the millennial-favorite cosmetics company readies new products after doubling sales last year.
The series D funding round included some existing investors as well as new investors Tiger Global Management and Spark Capital. The Wall Street Journal reported that Glossier was now valued at $1.2 billion.
Known for its "millennial pink" packaging, Glossier products have been worn by Beyonce, Chrissy Teigen, Miranda Kerr and other celebrities. The company, launched in 2014 as an almost exclusively online business, today counts nearly 2 million Instagram followers.
Glossier's annual revenue doubled in 2018, while its direct-to-consumer business crossed $100 million in revenue, it said.
The company also announced it had hired technology industry veteran Vanessa Wittman as chief financial officer.
By Aishwarya Venugopal.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.