Digital habits fuel boom in bricks-and-mortar beauty stores
But while mall operators see cosmetics as a bonanza, for the makeup sellers, too much new space could turn this beauty boom ugly
London — Shopping malls are getting a freshen up, with a coat of lipstick. Millennials’ love of digital media, and desire to look their best in their selfies, is fuelling a beauty boom in the US and Europe. Ironically, this is driving demand for physical stores where makeup junkies can get their fix. But those companies seeking to benefit from this trend should take care. Beauty may be in the eye of the beholder, but there’s nothing attractive about overexpansion followed by expensive retrenchment. More health and beauty shops opened in 2016 than any other type of retailer in Europe, according to property consultants CBRE. The most active included specialist brands such as Kiko Milano, Rituals and Aesop, as well as L’Oreal’s NYX, a range of professional cosmetics at affordable prices, and its edgy Urban Decay line. It’s a similar picture in the US. Ulta Beauty said it would open 100 new stores across the country, while Sephora, already the nation’s number-one seller of perfumes and ...
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