Sephora is a multinational luxury retailer of personal care and beauty products with 2,700 stores in 35 countries worldwide. The company was founded in France in 1969. In 1996, Sephora was acquired by luxury conglomerate LVMH. Since then, the company has evolved into one of the world’s most powerful and trusted beauty chains.
Besides its private label, Sephora Collections, there are more than 340 brands in the company's portfolio. Sephora offers beauty products, including cosmetics, skincare, body, fragrance, nail color, beauty tools, body lotions, and haircare.
In 2021 Sephora’s profit from recurring operations was back in positive territory, marking the end of the negative trend associated with the start of pandemics in 2019. Sephora benefited from the strong rebound in its stores and the continued momentum of its online sales. The expansion of its store network continued, in particular, with the new stores opened in China in the US. In addition to signing a partnership with the European online platform Zalando, Sephora acquired the British online distributor Feelunique, selling prestige beauty products.
In 2022 Sephora's leadership is committed to delivering the best experience for its customers by focusing on its global IT infrastructure transformation. Leading with Pricing at its core, Competera was selected through a complex RFP and then POC process, which highlighted the company's best in class Pricing technology, service and delivery. Competera will aid Sephora in its pricing journey towards Price Optimization, moving from a market-driven approach by employing rule-based and elasticity-driven pricing. Competera, advocating for optimal prices, will strengthen Sephora’s one-upmanship by collecting real-time competitive data and market insights and introducing them into the company’s pricing strategies.
By partnering with Competera, Sephora seeks to enhance its competitive advantage in 9 countries with the eventual goal of scaling the service to all markets.
‘Sephora is one of the largest and most trusted beauty names in the market. Our partnership shows they are committed to being a leader in pricing innovation and perception, earning and keeping the trust of their customers for years to come. We’re excited to be a part of this transformation and supercharge the company’s LTCV’ - Alexandr Galkin, founder and CEO of Competera.