THE WHAT? Sephora will allocate an investment of more than 150 million pesos (US$7.5 million) to open five news stores in Mexico by 2022.
THE DETAILS The prestige beauty retailer is also set to boost its e-commerce operations in the region, with digital expansion said to be an important part of its plans.
Sephora has allocated 70 million pesos (US$3.5 million) to boost e-commerce and develop technology for augmented reality features for virtual product testing.
THE WHY? Darío Aguilar, Sephora Mexico’s Chief Executive, has stated that Mexico, alongside Brazil, is a key beauty market for the company, with the retailer planning to continue growing and expanding its footprint there.