Sephora Gets Serious About Asia

Sephora Gets Serious About Asia

SHANGHAI–“The goal is to create this beauty community. We want to be the most-loved beauty community,” said Sephora Asia president Benjamin Vuchot. The executive was seated on the second floor of the Sephora Shanghai flagship store on Nanjing Road, sharing what the LVMH Group-owned beauty leader has in store for the region.
There was plenty to share. While the retailer has held a presence in this part of the world since the early 2000’s, in the last few years the beauty chain has ramped up its investments substantially with the goal to make the region as strong as the business it does in the U.S. and Europe.
China is the main engine of that but there’s growth happening in every single geography Sephora operates in: Singapore, Malaysia, Thailand, Phillippines, Indonesia, India, and Australia. The company is embarking on three new market entries this year alone: New Zealand in July, Hong Kong in August, and South Korea in October.
“Sephora globally is doing very well,” Vuchot said. “We are enjoying double digit growth in 20 of our 34 markets. Definitely China and the Middle East has had double digit growth for the past few years. Our goal for Asia is to double the business

Follow WWD on Twitter or become a fan on Facebook.

Read More…

Source link

Leave a Reply

Your email address will not be published.