Kohl's reveals plans to open additional stores and expand its Sephora brand. | charlesdeluvio/Unsplash
Kohl's reveals plans to open additional stores and expand its Sephora brand. | charlesdeluvio/Unsplash
Menomonee Falls-based department store chain Kohl's plans to open new stores and expand the Sephora-branded shops by several hundred in the next few years as part of the company's anticipated growth.
Kohl's revealed the chain's long-term goals earlier this week before the company held its annual investor meeting, which included expanding online business to reach $8 billion, Fox 6 now reported.
"Kohl's is undergoing a significant transformation of our business model and brand to be the retailer of choice for the active and casual lifestyle," Michelle Gass, Kohl's CEO, said in a statement, according to Fox 6 Now.
Over the next four years the company intends to open 100 additional "small-format stores," Fox 6 Now reported.
Kohl's believes by adding the Sephora brand to its locations, it could boost business by nearly $2 billion, which is largely behind the reason company officials decided to add the beauty shop to roughly 850 additional shops, the article stated.
These decisions were made, in part, in response to pressure from activist investors. According to Fox 6 Now, Kohl's reported acquiring millions of new customers because of the ongoing partnership Kohl's has with online retail giant Amazon, which allows people to return their online Amazon orders at Kohl's stores.
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