HSBC expects Sephora, the world’s leading beauty retailer, to post sales of €14.4 billion ($15.6 billion) and EBITDA of €1.4 billion ($1.5 billion) in 2023, according to a report in the Financial Times.
The U.S. is Sephora’s largest market, with sales totaling $10 billion, making it the largest beauty brand in the country. Notably, the partnership with Kohl’s in 2021 will allow Sephora to extend its reach beyond urban centers and compete with Ulta Beauty.
And according to Kohl’s, Sephora at Kohl’s sales exceeding $1.4 billion in 2023. The Sephora at Kohl’s fleet, which includes Sephora shops within Kohl’s stores, has grown to over 900 locations by the end of 2023. The retailer predicts that they will surpass their previously set goal of $2 billion in sales by 2025, driven by growth in both large and small-format shops.
