Sephora Plans 100 New Stores in 2020
At a time when store closings have become the new normal, Sephora is announcing plans to open one hundred new stores in the year 2020. These stores will be based mostly outside of malls, putting Sephora in more direct competition with its rival Ulta Beauty. A little smaller than previous locations, these stores will carry plenty of fragrances and hair products, two high-growth areas in a time when makeup is declining in popularity.
Sephora’s growth strategy will seemingly pit it in more direct competition against rival Ulta Beauty. Ulta’s stores are typically found in suburban strip centers, not inside of malls anchored by department store chains.