Sephora hopes to open 100 new stores next year
French beauty retailer Sephora have announced plans to open around 100 new branches each year for the next five years, resulting in a 10 per cent average turnover increase. The brand will focus upon new markets, such as Indonesia and Australia, as well as existing areas. It hopes to open 10 new French stores per year, 20 per year in the US and 30 each annum in China.
Sephora no longer exists in Belgium or Holland, as it decided to move and concentrate on other markets. The company is part of the luxury LVMH brand, and will likely hit a €5 billion turnover this year, which it aims to increase by 10 per cent each upcoming year. There are currently 2,000 stores in total, globally.