Sephora Plans To Add 10 Stores Every Year In India
French cosmetic store chain Sephora is going to add 8-10 new stores in India every year as it plans to take its total store count to 50 outlets over the next 3-4 years targeting a business of Rs 1,000 crore.
The retailer currently has 15 stores in the country spread in the National Capital Region, Chandigarh, Mumbai, Pune, Bengaluru, Chennai and Kolkata. It is going to add two more stores by February with one each in Chennai and Hyderabad. Sephora operates in India in partnership with Arvind Lifestyle Brands, a subsidiary of Arvind Ltd, which is India’s leading integrated textile player.
Vivek Bali, COO, Sephora India, Arvind Beauty Brands said “We are going to open 8-10 stores in India over the next 3-4 years. We are growing at high double digit and will reach around Rs180 crore revenue this fiscal. We expect to hit the Rs 1,000 crore revenue targets earlier than we hit the 50 store milestone in the country. Sephora is also planning to enter tier II and III cities in the country. While its store size in India is around 3,200 square feet, it may look at marginally smaller stores in the smaller markets.”
Sephora sells makeup, skincare, fragrances, bath and body, haircare and accessories for women and men’s grooming.