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.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.