South African Woolworths to ‘double’ beauty market share by 2020

South African Woolworths to ‘double’ beauty market share by 2020

South African retailer Woolworths is aiming to double its share of the country’s beauty market over the next three years, according to a report published by Reuters.  

The upmarket chain is hoping to replicate the model of its Australian department store chain David Jones, which has built up a strong relationship with the top cosmetics brands, in turn helping Woolworths to attract top brands, such as Chanel and Estée Lauder, into stores.

“We see an ability to more than double our market share by 2020,” CEO Ian Moir told reporters during a press briefing.

Woolworths is hoping that the new strategy will reverse a downward trend in earnings, and bring more shoppers through the door.

 

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