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In Search of Glossier Time

Four years after a Series E that valued Glossier at nearly $2 billion, the millennial beauty brand is seeking more capital from investors, this time at a valuation “south of a billion dollars.”

In early 2022, another year of disappointing sales led to layoffs at Glossier and Weiss, a visionary but an inexperienced operator, stepped down as C.E.O. in May. Photo: Martina Albertazzi/Bloomberg/Getty Images
Rachel Strugatz
April 9, 2025

Back in 2021, Glossier opened a handful of sprawling, Disneyland-like beauty stores, including a 4,500-square-foot “mushroom trip”-themed Seattle outpost and a Los Angeles flagship that took up nearly an entire block on Melrose, along with an adjacent “Glossier Alley” outdoor space and café that served $9.90 Glossier Pink Iced Lattes. These were high times indeed. Glossier had just closed a Series E that valued the company at close to $2 billion, with a cap table that included Thrive, Index, Forerunner, and Sequoia—a consortium of investors that has poured a total of $266 million into founder Emily Weiss’s millennial pink empire. It was an extraordinary pile of cash for a beauty brand. (Companies like Rhode and Rare have thrived on a fraction of that amount.)