Sephora CEO unexpectedly steps down
On June 30, Martin Brok will step down as CEO of Sephora, the LVMH Group's selective perfumery and beauty chain. This departure is due to "differences of opinion," as stated by the luxury goods group in an internal memo obtained by FashionNetwork.com.
The CEO's tenure was marked by strong moves in the digital realm, such as the acquisition of Feelunique.com in the summer of 2021 and the appointment of Marc Abergel as the company’s first global chief digital officer in February.
Chris de Lapuente, currently CEO of LVMH's selective distribution division, will assume the position of CEO of Sephora in parallel with his current role.
"I would like to thank Martin Brok for his contribution in leading Sephora during the challenging times of the pandemic. Under his leadership, Sephora has continued its global growth and embarked on a transformative journey to accelerate and consolidate its position as the global leader in prestige beauty products," said de Lapuente.
Brok, who previously served as president of Europe, the Middle East and Africa (EMEA) at Starbucks, hails from the Netherlands and took the helm of Sephora in September 2020, at a time when the coronavirus pandemic was still looming large. It was then that he succeeded de Lapuente.
Sephora has 2,650 stores in 35 countries with a total of more than 35,000 employees, including about 6,000 in France. According to AFP estimates, Sephora's revenue in fiscal year 2019 stood at 10 billion euros.
The selective retailing division of LVMH, which includes Sephora, achieved revenues of 11.7 billion euros in 2021 compared to 10.1 billion a year earlier. In 2019, before the pandemic, its revenue stood at 14.7 billion euros.
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