Is Sephora going out of business? – Why JCPenney closing in 2023?

Is Sephora going out of business? Over the past few years, Sephora has become the one-stop destination for makeup enthusiasts. Add Sephora you can find everything related to makeup and skincare. Different brands from renowned makeup artists and personalities are displayed together in Sephora. It is like a common platform for different brands. A person who wants to go shopping can directly go to Sephora and explore the heaven of makeup and skin care. Over the past few years, Sephora has made its products more and more diverse. 

Now you can find fragrances, electronic devices related to beauty and skincare, and so much more. The industry is getting bigger and bigger, and so is Sephora. For the past 15 years, Sephora has been in a contract with JC penny stores. JC Penney is a big name and the beauty market. It used to be a famous chain store of makeup and beauty-related items. Afterward, it collaborated with Sephora to launch hundreds of stores in the United States of America. But this year, Sephora decided not to renew its 15-year-long contract with JC Penney.

As a result, JCPenney has decided to open its stores throughout the United States of America. Sephora decided to move its in-shop stores to Kohls instead of JC Penney. As a result, JCPenney has decided to replace Sephora stores with its beauty stores.

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What is happening with Sephora?

Is Sephora going out of business

For the past 15 years, Sephora has been in a contract with JC Penney. This means that all the Sephora stores were operated by JC Penney only. But this year, Sephora decided not to continue its 15-year-old contract with JC Penney and instead moved it is in stores shops to Kohl’s. Sephora has decided to discontinue its agreement with JC Penney stores and no longer continue their partnership.

A couple of decades ago, JCPenney was a big name in the market. Now JC Penney has decided to make a beauty brand and sell cosmetics. This means that all the stores in Sephora that JC Penney operates will be closing from the end of 2022, and this closing will continue till 2023. Sephora is still out of business or closing permanently. It means that Sephora will now operate with a different partner. This new partnership will bring a lot of changes in both Sephora as well as JCPenney.

Is it safe or moving to Kohl’s?

Is Sephora going out of business

In an official statement, Kohl’s plans to open around 1100 Sephora stores in all of its changes. This means that Sephora and Kohl’s have officially come into contact with each other and have become partners. They target opening at least 600 stores by the end of two thousand twenty-two. In the first quarter of 2023, the plan is to open at least two hundred fifty more stores. Both companies expect to generate a fortune of around two billion US dollars by 2025. Sephora has always been a profitable brand and was previously in partnership with JC Penney. It was in December 2020 that the brand decided to come into a partnership with Kohl’s. Kohl’s has been an unprofitable brand for quite some while, and their voice and external pressure on the brand to increase its sales. With the help of this agreement, both brands worldwide will be able to make a lot of money.

Conclusion

Sephora has officially decided to discontinue its contract and partnership with JC Penney. This is why many people think that Sephora has gone out of business or has decided to discontinue its operations permanently. This is not true, and Sephora has merely changed its partner and will now be working with Kohl’s. Any news of Sephora being discontinued permanently is fake, and you should not believe the news like that. Sephora has now decided to work with Kohl’s, and there will be many exciting things you will see from the brand in the coming future. 

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