Glossier CEO Emily Weiss Steps Down
Weiss, who based the corporate in 2014, will lead its board as govt chairwoman. Kyle Leahy, Glossier’s chief business officer, will change into CEO efficient instantly. The model’s CMO Ali Weiss can also be leaving the corporate.
In a weblog put up, Weiss mentioned, “with this CEO evolution, I’ll have the ability to focus extra of my time as I did within the earlier days —supporting our good leaders of inventive, model, product and retail, as they take our buyer expertise innovation to new heights.”
The enterprise was a DTC darling and repeatedly raised funding at greater and better valuations to gasoline its growth, together with bodily shops and worldwide gross sales. It most not too long ago raised an $80 million collection E in July 2021, to gasoline its retail growth, which valued the corporate at $1.8 billion. Inside eight months of that funding spherical, nevertheless, Glossier laid off a couple of third of its workforce or greater than 80 workers (a spokesperson for the model mentioned that the layoffs have been supposed to assist the corporate refocus on magnificence.) The model opened three shops in Seattle, Los Angeles and London late final 12 months, after New York and Los Angeles flagships and a London pop-up closed in March 2020. The model struggled to tailor its messaging to a brand new group of youthful customers who shopped different manufacturers in an more and more crowded market. Moreover, its benefit as a direct-to-consumer model started to wane, largely an indication of the challenges dealing with the broader DTC mannequin.
Be taught extra:
How Glossier Misplaced Its Grip
The direct-to-consumer pioneer, which popularised millennial pink and dewy pores and skin, can’t sustain with an evolving magnificence trade, buyer and retail panorama.
