Sephora, a French beauty products retailer launched its first store in Gujarat at Ahmedabad, having a range of exclusive brands including Benefit, Caolion, Smash Box, Aveda, Percy. This adds diversification for Sephora India’s master franchisee Arvind Fashions Limited.
The company plans to make the total number of stores to 50 by 2020 and is planning to open stores in Surat and Vadodara. This store marks as 23rd store at Nexus Mall-operated Ahmedabad One mall in the city.
Sephora – a brand of LVMH Moet Hannessy Louis Vuitton made its entry in India market in partnership with Arvind Fashions in 2015. Mr. Vivek Bali, CEO, Sephora India at Arvind Beauty Brands, said that since its India entry, the brand has grown with a CAGR of 63 per cent and gained a market share of 28-30 per cent in the US$ 1.2 billion (roughly Rs 8,600 crore) premium beauty market in the country.
“Our target is to open 6-8 stores every year and reach 50 stores by 2022. The premium category market is growing at 18 per cent, but we have clocked a CAGR of 63 per cent over the last four years,” said Mr. Bali.
The focus of the brand is on make-up, skincare, fragrances, bath and body categories, beauty accessories and haircare categories and provide a curated assortment of 110 top beauty brands including Sephora Collection, new brands, beauty classics, cult favourites and emerging brands.