New York (CNN Business)The future of a successful mall retailer is apparently outside of the mall: Just look at Sephora.
The makeup chain announced that it’s opening 100 new stores across 75 cities in North America this year, marking its largest single-year expansion ever in the region.
Sephora stores will primarily be in neighborhoods or strip centers, a shift from its previous strategy of opening stores in malls or encompassing a small part of some JCPenney (JCP) locations.
Sephora said in a press release that brick and mortar continues to be a “huge opportunity” for the brand in addition to its online sales. Louis Vuitton’s parent company, LVMH (LVMHF), which owns the brand, said in its most recent earnings report that the makeup retailer is “experiencing strong growth and continues to gain market share.”
That’s a rarity in brick-and-mortar retail…
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Source: cnbc.com
Beauty retailer Sephora has big growth plans, at a time when many businesses are shutting their doors for good.
The company, owned by Louis Vuitton parent company LVMH, will open 100 stores in 2020. This marks its largest real estate expansion to date, more than doubling its store growth in 2019. And the focus, with this growth, will be on expanding outside of shopping malls.
“We love our stores in malls … but the focus on this next 100 is more off-mall locations,” Jeff Gaul, senior vice president of Real Estate and Store Development at Sephora Americas, said in an interview. “We are getting closer to where she lives and works, where she does most of her errands … where she can pull right up and grab something.”
Sephora will also be looking to grow in..
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Source: instyle.com
Sure, in 2020 it’s easier than ever to shop your favorite beauty products and tools at Sephora.com, but we’d be lying if we said there wasn’t something special about that in-store experience.
Being able to test out the latest innovations, experience formulas firsthand, and having the retailer’s beauty advisers on hand can make a world of difference. And now, Sephora’s making it easier than ever to do all of the above.
On Feb. 4, the cosmetics giant announced that it will be opening 100 new locations in over 75 cities across North America in 2020, focusing on local neighborhoods and community centers.
“Everything we do at Sephora is with our clients’ evolving needs in mind,” Jeff Gaul, Senior Vice President of Real Estate and Store Development at Sephora said in a statement. “In looking at where and how today’s beauty lover is shopping, there’s no doubt that there’s a trend toward more local shopping destinations. This year, clients can expect to see…
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Source: businessinsider.com
Sephora announced Tuesday that it plans to open as many as 100 new stores across North America in 2020.
The new location will open in 75 different cities including Charlotte, North Carolina; San Jose, California; and Nashville, Tennessee.
“There’s no doubt that there’s a trend toward more local shopping destinations,” Jeff Gaul, senior vice president of Real Estate and Store Development at Sephora, said in a statement to the press on Tuesday. “This year, clients can expect to see more Sephora stores not only in malls and high-traffic shopping centers, but also closer to home.”
Sephora has more than…
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