Cosmetics chain Rituals plans to open hundreds of new stores over the coming years, to reach 1,040 stores by the end of 2021. The average surface area of the shops is also set to increase considerably.
Rituals aims to open 95 stores (80 own stores and 15 franchise stores) this year, and 120 new stores in 2020 and 2021 – bringing the total number from around 700 to 1,040. The company also wants to open larger stores: “We still have a lot of shops with an area of 60 or 70 sqm where we still can not display everything that we want. On an areas of 300 sqm, this will be easier to achieve”, property director Jan Eising told vastgoedmarkt.nl.
Despite this expansion, Eising expects the importance of the retail network to decrease further in terms of total turnover: “Now it is 65 % to 70 %, in five or ten years’ time it will be just 50 %.” Other sales channels, such as online sales, wholesale and travel (the hotel sector, for example) will grow in importance.
Rituals now has an active presence in 27 countries in Europe and beyond. In the short term, the chain is due to open stores in Singapore, Paris, Stockholm and Arnhem, among other places.