Louis Vuitton 2003 Annual Report Download - page 67

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Romania and the Czech Republic, this opens up
a promising new territory in a region of the
world where the market is booming.
IN THE UNITED STATES, THE ROBUST
PERFORMANCE BY SEPHORA
CONFIRMS THE SUCCESS OF AN
INNOVATIVE APPROACH.
On a same store basis, Sephora continued to post
double-digit growth, well above trends in the spe-
cialized retailing industry. While confirming strong
sales growth in a sluggish economy, the brand
achieved its targets for profitability and cash gene-
ration, reaping the benefits of the work already
devoted to streamlining its network, cutting costs
and increasing the productivity of its stores.
The Times Square store in New York, which was
renovated in 2002, has become the Sephora flags-
hip store. Sephora also improved its performance
in San Francisco, opening a store in a new location
on Powell Street.
Sephora was named “Retailer of the Year” for the
beauty industry in the United States. This honor
rewards both its undeniable commercial success
and the innovative character of its approach, espe-
cially in merchandising and the promotion of crea-
tive young brands, one of Sephora’s special assets
driving its popularity in the US market.
SEPHORA CONTINUES TO MOVE
INTO PROMISING NEW TERRITORIES
IN EUROPE.
Sephora Europe continued the work initiated in
its stores to enhance the quality of customer ser-
vice and assistance, focusing on its expertise in
skincare. The introduction in France of the
Sephora customer loyalty card, designed to pro-
mote closer ties with customers, proved highly
successful. A loyalty card was also introduced in
Poland in late 2003.
As a partner with leading brands, Sephora also
attempts to stand out from its competitors by
offering more select and exclusive brands sought
by customers who are up on the latest trends,
and by expanding, under its store brand, several
product lines that combine creativity, quality
and attractive prices.
Sephora boosted its leading position in Poland
by teaming up with the country’s oldest selec-
tive perfume chain. This added seven new per-
fume shops in strategic locations, raising the
Sephora network in Poland to 41 stores. In Rus-
sia, an agreement was also signed with a partner
and the first Sephora store opened in Moscow in
December 2003. Under the agreement, the exis-
ting network can be completed with store ope-
nings under the Sephora banner. After Poland,
65
PASSIONATE ABOUT
CREATIVITY