Operating in the country in partnership with Arvind Lifestyle Brands, an integrated textile partner based in India, Sephora is set to add two more retail stores to its current portfolio of 15 and will open them in Chennai and Hyderabad by February.
The company is said to be keen to hit a target of Rs 1,000 crore, with Vivek Bali, Chief Operating Officer, Sephora India, Arvind Beauty Brands, stating, “We are going to open 8-10 stores in India over the next 3-4 years. We are growing at high double digit and will reach around Rs180 crore revenue this fiscal. We expect to hit the Rs 1,000 crore revenue targets earlier than we hit the 50 store milestone in the country. Sephora is also planning to enter tier II and III cities in the country. While its store size in India is around 3,200 square feet, it may look at marginally smaller stores in the smaller markets.”