Sephora to grow physical presence in India, to add 50 stores across 15 cities
Sephora, part of luxury conglomerate LVMH Moët Hennessy Louis Vuitton SA is looking to leverage its partnership with Arvind Lifestyle Brands Ltd by expanding its brick and mortar stores to capitalize on the booming cosmetics market in India.
Since its partnership with Arvind Lifestyle Brands Ltd in 2015, Sephora has been aggressively growing its brick and mortar stores in India adding 14 stores in leading metros like Pune, New Delhi, Chennai, Mumbai, and Bengaluru over the last two years.
Sephora as part of its latest store expansion efforts is looking to add 6 to 8 stores every year and has set a target of 50 stores in 15 top cities of the country by 2020. The next store will come up in the city of joy Kolkata followed by stores in southern cities of Hyderabad and Chennai before the end of the financial year, Vivek Bali, chief operating officer of Sephora India at Arvind Lifestyle Brands Ltd told the newspaper Mint.
Arvind Ltd which entered the beauty segment with Sephora is also looking expand its presence in India’s billion dollar cosmetics market. Beauty and personal care (BPC) market in India is expected to touch $10 billion by 2021 growing at an annual rate of 5-6 per cent, according to a report by Indian Beauty & Hygiene Association (IBHA).
At the time of the tie up Arvind Ltd had said it aims to achieve Rs 500 crore (approx $77.3 million) turnover in 4-5 years from cosmetics brand Sephora. Currently, the company is witnessing double digit growth and seems to be on track to achieve its target.
“We are seeing some fantastic double-digit (revenue) growth in the business from like-for-like stores. That’s been the journey and I think it’s going to continue for years to come,” Bali added.
The beauty retailer is also looking to expand it exclusive brand portfolio by adding 14 more to its existing 23 exclusive brands currently available in the country. Sephora now sells its own brand of cosmetics along with other international brands. Some of the brands that are currently exclusive to Sephora in India include Cover Fx, Boscia, Stila, Foreo, Benefit, Make Up For Ever and Smashbox.
Sephora recently also started selling its products online through the brand’s own e-commerce site in partnership with Arvind Internet Limited.
Sephora which sells cosmetics, fragrances and haircare had entered the Indian market in 2012 through a partnership with DLF brands.
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