French cosmetics chain Sephora aims to open some 100 new stores per year for the next 5 years. That way, it hopes to achieve its ambition of a 10 % average turnover increase.
In new and existing markets
Sephora will focus on expansion in existing markets, planning to open 10 new stores per year in its home market France (on top of the current 320 stores). In its most important market, the United States, it wants to add 20 stores per year, while China will get 30 (on top of the current 170).
The chain will seek new markets as well: it has started a new franchise store in Indonesia earlier this year, while it will open its first Australian Sephora store in Sydney in December.
Sephora, part of luxury group LVMH, is no longer present in the Netherlands and Belgium, ever since the chain moved out of the Netherlands (where it was part of V&D) in order to focus on other markets. Currently, the chain has 2,000 stores, but soon, it wants to reach 2,500 stores in a few years' time.