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.
Seun Sodipo, who was previously the head of product finance and strategy at Stripe, will take over as chief financial officer at the digitally focused beauty retailer next spring, Glossier said Tuesday. Sodipo will take over from Vanessa Wittman, who has served in the role since 2019 and is retiring.
In addition, Glossier hired Kyle Leahy as chief commercial officer from Cole Hahn, and Kristy Maynes was named senior vice president of retail, coming from Lululemon. In July, Glossier announced an $80 million Series E fundraising round that valued the company at $1.8 billion. The company has raised $266 million in total.
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Glossier Raises $80 Million Series E, Valuing Company at $1.8 Billion
The direct-to-consumer beauty brand ramped up its operations in the last month ahead of its reentry into physical retail.
As in-person retail continues to recover, store owners and marketers are working hard to press the main advantage analogue shopping has over digital: its appeal to all the senses.
What had once been a nimble, innovative company, became slow-moving and cautious causing it to miss out on what is now a strong beauty market because it retreated precisely when rivals went all in.
According to an email viewed by The Business of Beauty, the company will be on hiatus while it establishes a sustainable path to return as a new company.
The surfing legend, a vocal opponent of chemical-based sun protection, is launching his own line of natural skincare products this week.