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Sephora Grows Faster Than Department Stores' Cosmetics Business, Expands Global And Online Presence

April 18, 2013: 12:00 AM EST
Since its acquisition by Louis Vuitton Moet Hennessy in 1997, cosmetics retailer Sephora expanded rapidly around the globe. By 2013, Sephora is operating in 30 countries with more than 1,750 points of sale, generating more than $4 billion in revenue. Sephora opened its first store in New York in 1998; today, the retailer has about 706 stores in the United States. By offering new and modern cosmetics brands, Sephora has attracted consumers who are younger than those of department stores. Also, Sephora has adopted technology-driven services, such as smartphone credit card payments to speed up check-out, and expanded its presence on the Internet.
Walter Loeb, "Sephora: Department Stores Cannot Stop Its Global Growth", Forbes, April 18, 2013, © Forbes.com LLC™
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