We live in a society where everyone famous owns a beauty brand: Rihanna’s Fenty Beauty, Selena Gomez’s Rare Beauty, Lady Gaga’s Haus Labs, and probably even your neighbour’s homemade skincare line. The cosmetics industry is an arena where various brands battle to the death. Industry leaders, such as Estee Lauder and L’Oreal, must compete with young and hip brands or buy them out for a higher chance of survival.
One of these trendy brands is Glossier. It has captured the hearts of millennials with its minimalist baby-pink aesthetic and snazzy products promising dewy complexions, luscious features, and effortless glamour. Even investors, whose skincare routine may only consist of a soapy rinse in the shower, see Glossier’s potential. A $80 million series E funding round last year puts Glossier’s most recent valuation at $1.8 billion. It turns out that big capitalists such as Tiger and Sequoia are behind the manufacturer of Cloud Paint and Boy Brow, rather than holographic unicorn dewdrops. Sorry!
Looks like Kylie Jenner and Donald Valentine aren’t too different after all. Both believe that their beauty companies will make them millions. The next step for Glossier is navigating the increasingly competitive landscape under new CEO Kyle Leahy while addressing various controversies around product range, brand culture, and working conditions. This is a space I’m watching very closely for further developments and of course, promo codes.
