Tom Branna, Editorial Director02.26.21
Beauty sales declined sharply in 2020, but that's not stopping LVMH from opening 260 Sephora stores this year, its largest expansion ever.
The company said Thursday that it is adding more than 60 freestanding stores in 2021, and 85% of them won't be in malls. Openings begin this month in cities like Houston, Dallas and Los Angeles. Locations were based on a number of factors, with a focus on growing a presence in suburban and off-mall locations, ultimately making the Sephora experience more accessible to more beauty shoppers across the country, the company said.
The new stores comes on top of its previously announced 200 Sephora "mini shops" inside of Kohl's stores. The retailer said the first of these mini shops would open in California (greater Los Angeles), New York, New Jersey and the Midwest, including Chicago. The partnership with Kohl's will replace a deal Sephora has with JC Penney, which will end in the next few years.
The moves comes during a turbulent time for the beauty industry amid the pandemic, waning traffic to malls and a historically high rate of mall-based store vacancies of 10.5%. Mask wearing and the work-from-home routine has pummeled cosmetics sales as consumers embrace a casual, low-maintenance lifestyle. Makeup sales alone dropped 34% last year, according to NPD, but other categories posted steep declines as well.
The company said Thursday that it is adding more than 60 freestanding stores in 2021, and 85% of them won't be in malls. Openings begin this month in cities like Houston, Dallas and Los Angeles. Locations were based on a number of factors, with a focus on growing a presence in suburban and off-mall locations, ultimately making the Sephora experience more accessible to more beauty shoppers across the country, the company said.
The new stores comes on top of its previously announced 200 Sephora "mini shops" inside of Kohl's stores. The retailer said the first of these mini shops would open in California (greater Los Angeles), New York, New Jersey and the Midwest, including Chicago. The partnership with Kohl's will replace a deal Sephora has with JC Penney, which will end in the next few years.
The moves comes during a turbulent time for the beauty industry amid the pandemic, waning traffic to malls and a historically high rate of mall-based store vacancies of 10.5%. Mask wearing and the work-from-home routine has pummeled cosmetics sales as consumers embrace a casual, low-maintenance lifestyle. Makeup sales alone dropped 34% last year, according to NPD, but other categories posted steep declines as well.
