Sephora to open 100 stores in North America in 2020
The LVMH owned chain will be opening 100 stores across 75 cities in 2020, the new locations will be housed in streets and local center locations.
Sephora expands it’s horizons. The French beauty retailer is planning on opening 100 stores in local neighborhoods and community centers across 75 cities. The opening project is set to take place in the North American market. The new store openings will double the ones of the previous year.
The company’s strategic opening is to adapt to the current shift of consumer behavior in regard to its buying habits. “The new stores will open in locations where clients live and work including street and local centers as well as a mix of new and established shopping centers, with the primary focus being on ease and convenience for all clients,” said Sephora in a statement.
The North American project will be guided by Jean André Rougeo, who joined Sephora as president and chief executive officer last February 2019. “we are optimistically relentless and excited about our growth plans for the future,” said the president and CEO of Sephora Americas.
Sephora to open 100 stores in North America in 2020
Sephora has 490 stores across the Americas, and 660 location with the JC Penney chain. The parent company of cosmetic brand, LVMH ended the year with a revenue of 53,7 billion euros (59.2 billion dollars), 14.6% more than the previous year. Profit from recurring activities skyrocketed another 15%, to 11,5 billion euros (12.7 billion dollars).
The perfume and cosmetics category of the holding group is the second category to have increased its sales after the fashion and leather goods division, with an increase of 12%, although its profit only grew by 1%.
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