Glossier has secured a US$45m flexible line of credit to support the embattled skin care and fragrance business’ future.
The funds were provided by Tiger Finance, a speciality provider of debt financing, and will be used to fuel Glossier’s “next chapter”.
Glossier has experienced a challenging few years, struggling against greater competition from newer beauty brands, while failing to keep up with changing consumer habits – with Cosmetics Business recently asking the question of whether it can turn its situation around.
Glossier’s new CEO, Colin Walsh, stated that Tiger Finance’s cash injection has “demonstrated a strong understanding of our business and long-term ambitions”.
Walsh added: "This financing supports the next chapter of Glossier's growth, enabling us to deepen our connection with customers and continue creating meaningful experiences that inspire lasting brand love around the world."
Walsh – who is a former CEO of Procter & Gamble’s Specialty Beauty division and joined Glossier in September 2025 – introduced the new “leadership chapter” to help turn the business around.
The strategic shake-up will see the business shutter nine of its 12 stores over the next two-and-a-half years, with only the London, UK; New York, US; and Los Angeles, US, flagships remaining open.
This new brand focus also includes a slimming down of its product line-up to focus more on hero products and fragrances, such as Glossier You eau de parfum.
In February 2026, Glossier also laid off almost a third of its staff in a major company shake-up.
Glossier then named Nicole Solórzano CMO in March, who joined from hair care player Ouai, where she served in several marketing positions, most recently as VP of Marketing, and before that, Senior Director of Brand Marketing.
Walsh replaced Kyle Leahy as CEO, who had helmed the beauty brand for three years.
Leahy took over as CEO after Glossier founder Emily Weiss left her role as CEO in 2022, and announced her departure via a company-wide email to staff.
Weiss established the digital native brand, millennial-pink brand in 2014 and steered it to become a billion-dollar business.
Related content:
- Analysis: Why Glossier is in need of a major reset – and can it succeed?
- Glossier to shutter nine out of 12 stores in strategic overhaul
- Glossier to cut more than 50 jobs
- Glossier names Colin Walsh CEO as it aims to become ‘a true legacy brand’
- Glossier CEO Kyle Leahy to depart at the end of the year
- Glossier launches collectible beauty passport to boost loyalty and store footfall
- Why Glossier, Urban Decay and The Ordinary have brought old products back from the vault
- Terrible teens: Why beauty brands founded in the 2010s are struggling
