Glossier to top $100 million revenue mark in 2018
today Dec 14, 2018
In an interview with Bloomberg TV, Emily Weiss, the founder and CEO of US cosmetics label Glossier, said that at the end of 2018 the brand is expected to top the $100 million (€88 million) revenue mark.
"When you look at these incumbents like, say, an Estee Lauder or L’Oréal, in 10 years’ time with the way consumer behavior is going, those may not be the most dominant players. We believe that Glossier has every opportunity to fill in that space,” said a confident Emily Weiss.
Glossier is an emerging brand that is making a name for itself within a worldwide beauty market which is estimated to be worth $532 billion, and there are various keys to its success. First of all, the context: before launching Glossier in 2014, Weiss, 30, established her online reputation with the Into the Gloss website, where she collects the top beauty tips of models and other celebrities.
Weiss’ reputation enabled Glossier to benefit from extensive media coverage right from its inception, which the brand then built on by emphasising its uniqueness through a well-orchestrated media strategy. Glossier has a very active community of 1.6 million Instagram followers, and is very keen to stay in touch with its customers. This approach chimes with its products, designed to highlight the natural beauty of women, and featuring highly Instagrammable packaging in millennial-pink hues, which can be customised using small stickers.
In February 2018, Glossier raised $52 million from two of its long-standing investors. The brand generates most of its revenue online, though it also operates two stores, in New York and Los Angeles. Extending the brick-and-mortar retail network isn’t for the time being on the cards for Glossier. Among the brand’s priorities, there is the consolidation of its new overseas markets, including France, the UK and Canada.
Weiss did not comment on the rumours about a possible stock market flotation for Glossier.
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