140 141

1. 2. 3. Sephora

The Selective Retailing business group’s strong growth

was mainly driven by exceptional momentum at Sephora

and the gradual return of travelers to a number of key

destinations for DFS.

Sephora achieved another historic year, both in terms

of sales and profit, continuing to gain market share. It

saw exceptional performances in most of its markets,

with double-digit growth in North America, Europe,

the Middle East, Southeast Asia and new fast-rising

markets such as Latin America. Growth was driven

primarily by makeup, followed by haircare, skincare and

fragrances. In terms of channels, e-commerce growth

remained very solid but the strongest growth came from

the store network driven by higher traffic new openings

renovations and an elevated customer experience

The Maison continued to invest in its omnichannel

strategy and further expanded its store network with

more than a hundred store openings in 2023 In the

United States Sephoras partnership with Kohls

continued to be highly successful well ahead of

expectations and with major benefits for both com-

panies. Sephora also continued to develop its new

experience-focused store concept in Asia, with a major

renovation of its Shanghai and Wuhan flagships in China.

Another major event was the reopening of the Champs-

Élysées flagship store in Paris, which was fully renovated

for the first time in its history, reflecting the Maison’s

special focus on sustainability and energy consumption.

Sephora continued to invest in new markets. In the

United Kingdom, two stores were opened – in the

Westfield White City and Westfield Stratford City

malls – with results that very substantially exceeded

expectations. In India, an exclusive partnership was

entered into with Reliance to operate a number of

stores with the aim of transforming the countrys

promising prestige beauty industry Throughout the

year Sephora pushed innovation to record levels to

delight its evergrowing beauty community of over

160million loyal customers The Sephoria event

launched in the United States became a global phe

nomenon with successful events held in NewYork

2 3

2023

HIGHLIGHTS