Sephora takes both a global and local approach to business.
is global, but its consumers are local. So how does the world’s leading prestige omnichannel beauty retailer successfully leverage that dichotomy?overseeing Asia and Sylvie Moreau in charge of Europe and Middle East — talked strategy with Jenny B. Fine, editor in chief of Beauty Inc and executive editor, beauty, at WWD.Moët Hennessy Louis Vuitton-owned retailer’s three executives oversee 52,000 employees and approximately 3,000 sales points in 34 markets.
The retailer’s sales were up in China last year, although the country’s recovery is taking longer than expected Addressing the beauty brand community at large, she counseled: “Be patient. One of the things about China is when it does come back, you will need to be agile — that becomes even more important — and it will come back very fast.” In Europe and the Middle East, during the past two years, Sephora has been clocking more than 20 percent annual gains. There, Sephora is outperforming the market growth by two- to six-times, according to Moreau.
Differentiation has always been paramount at Sephora from an overarching brand perspective, and brand exclusivity is important. “We don’t want you to grow too fast,” Patrick said. “Each brand is a snowflake. Each plan is bespoke to that brand.”
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