Glossier built a $1.8B DTC brand — then stores and a failed line extension drained it

Glossier was one of the most celebrated DTC beauty startups of the 2010s, built by Emily Weiss from her blog Into the Gloss. The company reached a $1.8 billion valuation after its 2019 Series D by selling directly to customers online, with a cult-like following and minimal marketing spend. Its strength was also its weakness: it had no retail distribution network and no wholesale partnerships.

In 2019 Glossier launched Play, a colour cosmetics line meant to broaden the brand beyond skincare. Play was discontinued a year later after poor sales and criticism over unsustainable packaging. The same year the company opened its first retail stores — just before the pandemic shut them down. Glossier laid off retail staff in 2020, then suffered a leadership crisis when Weiss stepped down as CEO in 2022.

By 2026 Glossier announced it would close nine of its twelve stores, keeping only New York, Los Angeles and London. The company laid off a third of its workforce — 54 employees — in a strategic reset under new leadership. Once valued at $1.8 billion, the company's worth had fallen sharply as investors questioned whether a DTC brand could survive the shift to omni-channel retail.