Macy's Plans to Expand Bluemercury by Adding 55 More Stores

Published on: 05 Jul, 2018

Bluemercury is Macy's Inc (NYSE: M) answer the competition against beauty chain stores such as Ulta and Sephora. Macy’s acquired the luxury beauty retail chain in 2015 for USD 210 Million.

The Company co-founded by Marla and Barry Beck in 1999. Their mission is to help their clients “find high quality, innovative beauty products and honest, expert advice.” Bluemercury carries a variety of luxury brands such as La Mer, Yves Saint Laurent and Jo Malone London. They are also known for their spa services and facials and has been rated as “one of the best facials in America” by Oprah. They have spas in 90% of their stores with services such as “world-renowned oxygen facials, glycolic peels, waxing and microdermabrasion.”

On Tuesday, Vice President of Corporate Communications, Blair Rosenberg announced in an email that they were planning to open 55 new Bluemercury stores by 2019. Approximately 25 freestanding stores are expected to open in 2018 with an additional 30 stores opening in 2019, bringing Bluemercury’s store count to 215. Barry Beck stated that they are planning to open the new stores in areas with little to no presence, such as Raleigh, Corona Del Mar and Jupiter, “we focused a lot on the coast and the big cities and so now we’re looking to pick up a new customer” said Beck. The flagship store is located in Manhattan at the Hilton Hotel on Sixth Avenue.

 Macy’s is capitalizing on the rise of the premium beauty market which has U.S. sales up 6% in 2017. Macy’s own stocks have increased by about 50% this year.

Ratings

Ratings
  • 299Views
  • 0Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Karen Chow

Email: Karen@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Related Posts

16 Jun, 2017 554
12 Jul, 2017 523
18 Jul, 2017 455
26 Jul, 2017 544

Comments

There is no comment on this article