THE WHAT? LVMH-owned cosmetics retailer, Sephora, is contemplating a shake-up of its China operations to reach an aggressive sales target in the coming years. This restructuring may include appointing a new leader for its China division and refining services for premium customers.
THE DETAILS? Although on track to achieve a global revenue of €13 billion ($15 billion) this year, Sephora’s growth in the competitive Chinese market has been slow. The company’s senior managers are considering a new executive appointment to drive growth. The potential of the Chinese market is critical to achieving a global sales target of €20 billion annually in approximately five years.
THE WHY? While a representative for Sephora has declined to comment, LVMH has yet to respond to inquiries about these changes. The restructuring of Sephora’s China operations underscores the company’s ambitious strategy for growth in the lucrative Chinese cosmetics market.
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Cosmeceuticals: Skincare products that contain biologically active ingredients with pharmaceutical-like benefits.
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Sterilization and Disinfection Products: Essential for maintaining hygiene and preventing infections in clinical settings.
