J.C. Penny, Sephora shoppers share similar spending habits.Midwestern mothers, meet Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. . Five new J.C. Penney Co. Inc. stores feature a mini Sephora, which offers a variety of high-end makeup, lotions and fragrances. Sephora USA LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is owned by LVMH LVMH Moët Hennessy-Louis Vuitton (upscale retailer) Moet Hennessy Louis Vuitton The Louis Vuitton Company (more commonly known simply as Louis Vuitton) is a luxury French fashion and leather goods brand and company, headquartered in Paris, France. It is a division of the French holding company, LVMH Louis Vuitton Moët Hennessy S.A. SA. The Glendale Galleria The Glendale Galleria is a large 3 story regional shopping mall located in Glendale, Los Angeles County, California. It is the second largest mall in Los Angeles County. It is located in Downtown Glendale. is one of the locations. Penney's laid out an accelerated growth program last week as it opened 20 new stores. This is the biggest round of openings for the $19 billion chain based in Plano, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. , since the 1970s. Long in need of a facelift, it's no surprise that Penney's would turn to one of the hippest and fastest-growing beauty chains as part of its much-needed brand overhaul. Sephora has built its brand with free-standing stores in upscale, metropolitan city malls, offering savvy and educated salespeople and encouraging customers to test and smell a wide variety of hard-to-find lines, including its own eponymous brand. Sephora's devotees might be surprised to find their beloved BeneFit, Stila and Philosophy brands at a retail outlet retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → perhaps known for quality, but utilitarian, T-shirts and underwear. Sephora, however, sees the move as a way to broaden its audience. "Sephora's partnership with JCPenney allows us to dramatically raise awareness of our brand, even as we continue to aggressively build our own store base," said Satish Malhotra, vice president and general manager of the Sephora Inside JCPenney Initiative. "There is not a lot of overlap between Sephora stores and JCPenney stores, so we believe the majority of their clients will be new ones for us, and we're confident they will be happy to see us." Though their customers are very different--the average age of a Penney's customer is 48, while Sephora buyers are 25 and younger--they have similar spending patterns. Penney's customers spend about $650 each year on beauty products--the same as Sephora's base. The Glendale location store within the department store is 2,500 square feet, about half the size of an average Sephora stand-alone. Penny's stock got a slight bounce on the string of announce ments, and was trading around $70 last week. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion