The battle for supremacy in the cosmetics market, triggered by the recent arrival of Sephora, is in full swing, but analysts are already pointing to Australia’s department stores as the biggest potential losers.
Sephora opened in Sydney on December 5 and will be a direct threat to department stores Myer and David Jones, which account for as much as 60 percent of the premium cosmetics market.
Sephora has 1500 standalone stores around the world and plans to open 20 in Australia, with the aim of snaring 10 per cent of the lucrative cosmetics market.
(Source: The Sydney Morning Herald Online )