The awards look to recognize those retailers who have extended their brand and operations successfully into multiple markets and not just in neighbouring countries or those with a common language.
“Expanding beyond the home market is one of the most difficult and complex strategies for any retailer. But it remains one of the most important routes to secure sustainable growth,” says Sephora.
Another important consideration for the judges was how retailers have responded to the needs of the different markets they operate in whilst retaining integrity of their brand and positioning.
Eventually, the judges looked at the balance between the domestic business and the international network and wanted to see how retailers are performing in their key markets by revenue and market share.
“This recognition is very important to Sephora and all our teams around the world. It confirms to us that the Sephora concept enjoys success and appreciation on an international scale. Sephora, operating now in 33 countries and more than 2,300 stores, has truly seen a wonderful global growth over the past 10 years,” said Stephan Borchert, President Sephora Europe & Middle East.