Sephora to shift its focus to tier 2, 3 cities in India
French premium beauty brand Sephora is betting big on the Indian market, as it plans to open another 75 stores across Indian in the coming years.
The company has received a good response at its existing Indian stores, especially in the metros, and is now looking to explore the tier 2 and 3 towns for future growth.
As India’s beauty market goes from strength to strength, Sephora is looking to expand in all of the country’s key markets, according to its India CEO.
“The company is aiming to open 75 stores across India, owing to an overwhelming response it has received from customers. Although the luxury brand has garnered 50 percent of its sales from the metros in India four years after its launch here, the focus would shift to tier 1 and 2 cities,” Sephora India, CEO, Vivek Bali told The New Indian Express.
“We are aggressively expanding. The initial target is to reach 50 stores in a few years from now. But after that, we are looking at expanding our footprints across 75 locations in the country. Tier 1 and 2 cities have already contributed a lot to our customer base,” Bali added.
Sephora first entered the Indian market in 2015, by partnering with Arvind Fashions Limited. Since then, the brand has rapidly expanded across India and managed to gain a market share of around 30 percent in the premium segment.
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