Sephora leaves Croatia
Almost five years after entering the Croatian market, the cosmetic store chain Sephora will soon close all its stores in this country. Two stores in Zagreb will remain open by August 10th, until when all products will be on sale.
Although people at the headquarters of this company, which operates as part of the LVMH group (Moet Hennessy Louis Vuitton), have not specified why they are closing their stores in Croatia, an unofficial reason is unprofitability, that is, poor sales performance.
- Unfortunately, I cannot answer your questions. All we can say about our operations in the Croatian market is that we are making new plans, but it is still too early to talk about them. We are aware of all possibilities and we will inform you of them as soon as we can - Delphine Bouchez, PR manager of Sephora store chain in France, told Poslovni Dnevnik.
According to the data provided by Poslovna Hrvatska, Sephora registered a revenue of HRK 13.5 million (about EUR 1.794 milllion) in 2011, making a loss of HRK 4.1 million (about EUR 545,000).
Sephora's stores in Croatia employ about 20 people who will now lose their jobs.
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