CVS to Open Beauty 360 Stores
CVS will begin testing a high-end beauty store concept this year, looking to tap into growing demand for skin care and cosmetics seen at outlets like the Sephora chain.
The drug store chain operator plans to open a store called “Beauty 360″ by the end of the year next to existing CVS stores on the U.S. East Coast and another on the West Coast shortly thereafter, CVS spokeswoman Eileen Howard Dunn said on Friday.
She declined to say where the stores would be located. But Women’s Wear Daily, which first reported the news, said the first would be opened in Washington, D.C., and the second in Sacramento, California.
The “prestige beauty” stores would carry 32 lines of skin care and cosmetics plus a number of fragrances, Dunn said. She declined to name the brands.
CVS’s expansion efforts in recent years have been in the health-care realm, notably with the acquisition last year of Caremark, a pharmacy benefits manager.
Dunn said the company has also focused on building up beauty product offerings in its stores with research showing demand on the higher end.
“Beauty has always been a core part of our front-of-store offering, so this is the next evolution,” she said.
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[…] CVS/pharmacy, America’s largest retail pharmacy, was presented the “Retailer of the Year” Award by Women’s Wear Daily Beauty Biz in the magazine’s annual Beauty Awards issue. The award was announced yesterday in New York City at the WWD Beauty Biz Awards breakfast. WWD Beauty Biz recognized CVS/pharmacy for its bold strategy in partnering with prestige and niche beauty brands to launch its Beauty 360 concept. […]