Sephora Marinopoulos posts turnover worth 12m euros

Sephora Marinopoulos, the company that owns and operates Sephora and Beauty Shop stores, projects turnover worth 15 million euros for this year.
“Turnover derived in the first half of the year exceeded the level posted over the same period last year by 12%,” says Georgios Betchavas, country manager of Sephora Marinopoulos. Perfumes are still the best selling products on the domestic market, accounting for about 50% of Sephora sales. The remainder of sales comprise skin care products and other cosmetics.
Besides Sephora products, the stores also market other brands of perfumes and cosmetics.
“The key products of the store are Sephora’s own product range (including body care and make-up products) as well as exclusive brands (the latest innovations in cosmetics), which offer additional benefits to our clients that our competitors cannot provide,” said Cristina Marin, PR & Brand Manager at Beauty Shop.
According to company officials, the Sephora brand accounts for 20% of total sales in the Sephora and Beauty Shop stores.
The company yesterday launched skin care products from the Dr. Murad range, a very prominent brand on the US market. Dr. Murad is the founder of Murad Research Laboratories and one of the founders of Sense and Self Care Institute.
Sephora Marinopoulus currently includes four Sephora and four Beauty Shop stores, and aims to open three more Sephora stores by the end of 2007.
The company is considering giving up the Beauty Shop brand next year. The rebranding process will start in Romania with the Beauty Shop store – located in Orhideea shopping centre – which, on November 5th will be reopened as a Sephora store, say the officials.
“The concept of the Beauty Shop stores already exists on the domestic market. The fact that the cosmetics market is maturing and clients have become more educated, assures us that customers are ready for the change to Sephora brand,” added Marin.
According to previous statements, Sephora Marinopoulos projects investments amounting to 10 million euros on the local market, by the end of 2008.