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Class Editori News

Sephora, 400 new stores in three years, most in China

September 27, 2019


Abstract : The distribution chain of cosmetic products belonging to the French group LVMH, is present in 74 Chinese cities, but wants to reach 308 with over one million inhabitants. The beauty company is recording a growth of 30% per year in China.

MILAN, Sep 26 (Class Editori) - For Sephora, the beauty branch of LVMH, the French luxury group, the protagonist of another year of double-digit growth is China, where it records an annual growth of 30% and is one of the major engines of growth.

“The Chinese market still has enormous potential. It counts 308 cities of over one million inhabitants and Sephora is present only in 74 of them.” The chain of perfumeries has 250 stores in China and is opening about thirty new shops every year. China could soon become its second market, ahead of France.

According to analysts, its turnover should approach the 10 billion euro bar in 2019 and its operating result would exceed one billion. “Our goal is to maintain our annual sales growth rate in the coming years. Before the conquest of new markets, our priority remains to strengthen ourselves in the countries where we are already present, starting with France, and accelerating in the United States. Retail is not dead,” explained the Ceo of Sephora Chris de Lapuente. “It's the boring retail that's dead,” he added.

Sephora, which has 2,600 stores worldwide, aims to reach 3,000 boutiques within the next three years, at the rate of 130 new openings per year. “To continue to gain market share in a discounter world, we must bet on being different, with services, an exclusive offer and a memorable and different experience in the store,” explained de Lapuente.

Last April, the cosmetic product distribution chain began a collaboration with Moschino to create a make-up collection. The capsule is inspired by the objects typically used at school: highlighter-shaped illuminators, brushes with a pencil handle, an eye palette that recalls a MacBook, lip gloss in the shape of a felt-tip pen and a gum-shaped makeup remover. The packs, in pastel or phosphorescent colors, are enriched by the Moschino + Sephora logo.

The two brands have already worked together in the past. In September 2017 they had launched a seven-piece beauty collection. Moschino is the leading brand within the Aeffe group. In 2018 it received 250.8 million euros (+ 13.9%), equal to about 72% of the group's total turnover.

(Source:Class Editori)

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Keyword: Sephora cosmetics

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