The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The cosmetics giant will allocate an investment of more than 150 million Mexican pesos ($7.5 million) to open five new stores in the country by 2022 and boost its e-commerce operations.
Darío Aguilar, Sephora Mexico’s chief executive, told the local edition of Forbes that, along with Brazil, Mexico is one of its most important beauty markets, meaning the company needs to continue growing and expanding its footprint there.
Digital expansion is also an important part of the plan, Aguilar added, and 70 million pesos ($3.5 million) has been earmarked to boost e-commerce and develop technology for augmented reality features for virtual product testing.
According to the Mexican Association of Online Sales (AMVO) the country’s e-commerce retail sector grew 81 percent year-on-year in 2020.
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Mexico Bans Animal Testing for Cosmetics
It is the first country in North America and the 41st country globally to do so.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.