SEPHORA DENIES GERMANY REPORT
Byline: Jennifer Weil
PARIS — Sephora will continue to grow in Germany, according to Daniel Richard, managing director of Sephora Europe.
He denied a report that appeared in the Financial Times Wednesday that the LVMH Moet Hennessy Louis Vuitton-owned beauty retailer “has abandoned its expansion plans for the German market.”
Sephora, which currently has five doors in Germany, is in negotiations to sign on a sixth, Richard said.
“In regard to Germany, we will continue to open there,” he confirmed, adding that Sephora is doing well locally. The company is “very content with how [the first German Sephora door, in Cologne] is doing in its second year; on a year-on-year basis, its sales are up by more than 50 percent,” he said.
But, he added, England is tops on the expansion priority list right now. There, “we will open about 15 stores as quickly as possible,” he said.