Beauty Store Business

MAY 2019

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4 May 2019 | Industry News From top le : courtesy of Rahua, Gerry Udell, Inc. ARTEMIS PATRICK NAMED CITY OF HOPE SPIRIT OF LIFE HONOREE City of Hope, a world-renowned independent cancer and diabetes research and treatment center, officially announced that its National Professional Salon Industry group will honor Artemis Patrick, chief merchandising officer at Sephora, with the 2019 Spirit of Life Award. The Spirit of Life Award is City of Hope's highest philanthropic honor and is presented annually to an industry leader who has demonstrated outstanding business and philanthropic achievement. "On behalf of the salon industry and the City of Hope National Professional Salon Industry board, we are grateful to Artemis and Sephora for believing in City of Hope's critical mission," said John Heffner, CEO of Drybar. "With their support for the Spirit of Life campaign, the salon industry will continue to grow its long legacy of giving that fuels the momentum of the innovative research and personalized medicine model, one patient at a time." "The salon industry's generosity has been critical to accelerating the pace of discovery in cancer and diabetes care, transforming our understanding of life-threatening diseases and moving promising discoveries toward actual treatments," said Kristin Bertell, chief philanthropy officer at City of Hope. "We are grateful for the industry's profound commitment and excited to celebrate all that its philanthropic partnership will accomplish in 2019. Congratulations Artemis and the entire Sephora team." Artemis Patrick joined Sephora in February 2006, previously serving as vice president of ecommerce merchandising for and vice president and general manager for Sephora inside JCPenney. Patrick is known for her passion for innovation and being a risk taker. She leads a top-performing team of merchants and product development specialists, always with the aim of helping Sephora clients learn, play and get inspired with beauty. She is widely recognized as an accomplished leader in the industry with her demonstrated ability to collaboratively drive growth in complex business settings. Currently as chief merchandising officer, Patrick realizes Sephora's winning vision in product market leadership, category innovation and service differentiation. Patrick will be honored with The Spirit of Life Award on July 27, 2019, at the Mandalay Bay Hotel & Casino in Las Vegas. She is joined by an esteemed dinner committee, including representatives from brands such as Amika, Briogeo, Luxury Brand Partners, Moroccanoil and Olaplex. The event is titled, "Be Bold, Build Hope, Create Beauty." The event will include a hosted cocktail reception, dinner and live entertainment. For information about becoming a sponsor, purchasing tickets or making a donation, visit Artemis Patrick GLOSSIER RAISES $100 MILLION FOR FUTURE GROWTH Direct-to-consumer beauty brand Glossier announced that it has raised $100 million in Series D funding. Sequoia Capital led the round, with participation from Tiger Global Management, Spark Capital and existing investors—Forerunner Ventures, Thrive Capital, IVP and Index Ventures. Additionally, the company announced that Vanessa Wittman, a tech industry veteran, will be joining as its chief financial officer. Wittman previously held CFO roles at Oath, Dropbox, Motorola Mobility and Marsh & McLennan. "We are building an entirely new kind of beauty company: one that owns the distribution channel and makes customers our stakeholders," said Emily Weiss, founder and CEO of Glossier. "Thanks to this direct relationship with our customers, we have access to endless inspiration for new products, experiences and ways of building an enduring business—all while staying true to our core belief that beauty should be a celebration of individuality and personal choice." Founded in 2014, in less than five years, Glossier has grown to more than 200 employees across three offices, operating in the United States—and internationally in Canada, the United Kingdom, the Republic of Ireland, France, Denmark and Sweden. An online source reported the fast-growing company more than doubled its annual revenue in 2018, surpassing $100 million as a fully direct-to-consumer business—while adding more than one million new customers to its portfolio. "Glossier has built an exceptional brand and relationship with its customers, and its business fundamentals are equally impressive," said Michael Abramson, partner at Sequoia. "This is one of the most efficient direct-to-consumer businesses we've encountered, and with this new capital, we believe Glossier is well positioned to define the next era of the beauty industry."

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