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Sephora Eyes Mexican Expansion | BoF

The cosmetics big will open 5 new shops in Mexico earlier than the tip of 2022. Shutterstock.

The cosmetics big will allocate an funding of greater than 150 million Mexican pesos ($7.5 million) to open 5 new shops within the nation by 2022 and enhance its e-commerce operations.

Darío Aguilar, Sephora Mexico’s chief govt, informed the native version of Forbes that, together with Brazil, Mexico is one in every of its most essential magnificence markets, which means the corporate must proceed rising and increasing its footprint there.

Digital growth can also be an essential a part of the plan, Aguilar added, and 70 million pesos ($3.5 million) has been earmarked to spice up e-commerce and develop know-how for augmented actuality options for digital product testing.

In line with the Mexican Affiliation of On-line Gross sales (AMVO) the nation’s e-commerce retail sector grew 81 p.c year-on-year in 2020.

Be taught extra:

Mexico Bans Animal Testing for Cosmetics

It’s the first nation in North America and the forty first nation globally to take action.

https://www.businessoffashion.com/news/global-markets/sephora-eyes-mexican-expansion | Sephora Eyes Mexican Growth | BoF

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