The mass-market beauty company had $96.8 million in sales for the first half of 2016.
Rights groups applaud the decision as a victory for individual and religious freedom.
The shop at 12 Mercer Street will offer a small sliver of Gallagher’s fashion archives, with the rest available by special order.
Entertainment in recent years has included Florence + the Machine, Lady Gaga, Rihanna and Kanye West.
She has been named senior vice president and publisher of the Everyday Food and Whole Living brands.