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Sephora Helps Owner LVMH Cope Better With Slowing Luxury Fashion Sales

June 6, 2013: 12:00 AM EST
Cosmetics retailer Sephora's rapid growth is pushing LVMH Moet Hennessy Louis Vuitton's Selective Retailing unit to overtake fashion and leather as the luxury company's biggest business by 2018, according to Sanford C. Bernstein. In 2012, Selective Retailing, which also includes the department store Le Bon Marche Rive Gauche in Paris and two duty-free shop operators, accounted for 28 percent of LVMH's sales. Expanding its business in Latin America and Asia, Sephora is also introducing services, such as mobile payments, and expanding its house-brand selections to encourage shoppers to keep spending. While LVMH's reported its weakest fashion and leather goods sales in three years, Sephora's new stores in Shanghai and Hong Kong drove a 17 percent increase in first-quarter comparable sales for Selective Retailing.
Andrew Roberts, "Cosmetics Seller Sephora Is Driving Growth at Luxury House LVMH", Business Week, June 06, 2013, © Bloomberg L.P.
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