When Glossier CEO Kyle Leahy took over from founder Emily Weiss two years ago, her mandate was clear: reinvent the millennial-coded direct-to-consumer darling for a new era. By all accounts, her strategy—launching Glossier in Sephora stores and more international territories—has worked. The Sephora deal alone resulted in more than $100 million in retail sales last year, and Leahy says that the company is now profitable and “sustainable.” Last week, the company doubled-down on the...

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