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Glossier & LVMH: A Love Story?

emily weiss
The response from LVMH also helps to explain why Weiss has recently immersed herself in product development, specifically fragrance. Photo: Vivien Killilea/Getty Images for Fast Company
Rachel Strugatz
March 27, 2024

It seems like everyone in the beauty business has a banker these days: After all, Glossier, Rare, Summer Fridays, Merit, and Kosas are all exploring sales to capitalize on strong growth. But the market maker, of course, is Glossier—the once white-hot, once category-defining millennial-ish brand, which I reported last week had hired Morgan Stanley as a financial advisor. Now, I’m reliably told, Glossier is in “deep” conversations with LVMH regarding a potential acquisition. The French conglomerate—owner of Louis Vuitton, Dior, Celine, and Sephora—is particularly interested in Glossier’s expanding fragrance offerings, which includes its popular “You” scent. “It’s part of the hook that they’re presenting to LVMH,” a source said. “They have this number one fragrance––they’re not just selling Cloud Paint. That’s why they’re worth $2 billion.” 

Indeed, Glossier You was Sephora’s best-selling scent in 2023, no small feat considering the staggering, almost nauseating amount of Sol de Janeiro body spray the retailer moves—not to mention blockbusters from the usual suspects (Saint Laurent, Valentino, Dior, Chanel, etcetera). Sure, it only costs $72, a steal in a world where Tom Ford Vanilla Sex (not a joke) goes for $395 a bottle. But it also smells really good. Founder Emily Weiss, who doesn’t do anything half-assed, tapped master perfumer Frank Voelkl, the nose behind Le Labo’s Santal 33, to craft the scent.