Copy of Part 4: Refy Vs Glossier

Refy: From Social Media Sensation to a Minimalist Movement

Refy is the creation of Jess Hunt, a model and social media influencer hailing from the UK. Jess’ rise to success is a true testament to the power of digital influence, and (as a fellow Mancunian) I love celebrating her journey building her business from Manchester.

Starting her career by documenting her beauty routines and style on Instagram, Jess quickly built a loyal following. Leveraging this platform, she co-founded Refy in 2020, alongside her business partner Jenna Meek. The brand launched with its Brow Sculpt product, which sold out within weeks, amassing a waitlist of over 100,000 people. By 2023, the brand had hit ￡24.2 million in annual revenue—a major milestone for such a young company? .

Refy has embraced the power of social media to build its empire, particularly on TikTok, where it has driven tremendous sales growth. A TikTok campaign boosted the brand’s organic revenue by 750%, a remarkable figure that speaks to its dominance in the beauty space . Products like the Brow Sculpt and Lip Sculpt have become go-to essentials for beauty enthusiasts looking for that clean, polished look with minimal effort.

Glossier: A Pioneer in Community-Led Minimalism

Glossier entered the scene in 2014, founded by Emily Weiss, who turned her beauty blog, Into the Gloss, into a brand that reshaped the beauty industry. Glossier leaned into the concept of “less is more,” promoting a “skin first” philosophy that resonated with millennials and Gen Z alike. Through its direct-to-consumer model, Glossier created a billion-dollar brand driven by a highly engaged online community.

Glossier’s iconic products like Boy Brow and Cloud Paint have achieved cult status, cementing the brand’s role in shaping the minimalist beauty movement. With a billion-dollar valuation in 2020, Glossier represents not only a brand, but a lifestyle—one that prioritizes community, simplicity, and an effortlessly polished look .

The Minimalist Face-Off: Different Paths, Same Mission

Though both brands champion minimalist beauty, their approaches are distinct. Refy has carved out a niche by hyper-focusing on brow and lip products, with Jess Hunt’s personal brand driving its growth. Her direct connection with fans through TikTok gives Refy a dynamic and intimate feel, making it a standout in social commerce.

Meanwhile, Glossier takes a broader approach, offering a wider range of products from skincare to makeup. Emily Weiss positioned Glossier as a beauty brand driven by community input, where fans felt part of the product development process. This sense of inclusivity has made Glossier a staple in the beauty routines of millions.

Exit Potential: Acquisition Targets in the Making

As these brands scale, the next logical step is to explore exit opportunities. With Refy generating over ￡24.2 million in revenue and Glossier valued at $1 billion, both are attractive acquisition targets for beauty conglomerates.

Refy: With its niche focus and impressive growth in social commerce, Refy could be a prime acquisition target for companies like L’Oréal or Estée Lauder, which have a history of buying fast-growing indie brands. Estée Lauder’s acquisition of Too Faced for $1.45 billion or L’Oréal’s $1.2 billion purchase of IT Cosmetics demonstrate a keen interest in brands that have viral appeal and cult-like followings.

What makes Refy truly compelling is its mastery of TikTok, where the brand’s use of short-form videos and viral content has driven sales and visibility. Being able to win on TikTok repeatedly on TikTok is super attractive. This viral appeal, paired with high-quality products like the Brow Sculpt and Lip Sculpt, has turned Refy into a brand synonymous with “easy beauty” – and that's something incredibly valuable to major conglomorates.

Glossier: With its billion-dollar valuation, Glossier is already a major player in the beauty industry. If the brand continues its expansion into physical retail, it could be eyeing either a strategic acquisition or a potential IPO. Its community-led approach gives it a unique position in the market, making it attractive to conglomerates or investors looking for a strong, established brand with room for growth.

Next in the Series: US Celebrity Beauty Powerhouses

In the final blog of the Beauty Playbook Series... we’ll be taking a close look at the biggest celebrity beauty brands in the USA: Fenty, Rare Beauty, Haus Labs, and Kylie Cosmetics. We’ll explore their growth, how they are structured, current valuations, and their future worth in an increasingly competitive market.

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