At Univers Retail, we like to keep a close eye on innovation. In this series of articles, each week we'll take a look at a major retail company and its strategy for collaborating with start-ups in a spirit of open innovation.
What challenges does Sephora face?
Sephora is the flagship retail brand of the LVMH group. In order to remain leader on the cosmetics market, Sephora must always be on the lookout for new nuggets to add to the hundreds of brands offered in-store and online. The beauty sector is rapidly innovating with digital and personalization experiences. What's more, customers are concerned about the products they buy, and are looking for healthier, more natural ingredients. To meet these challenges, Sephora has chosen to support innovative cosmetics entrepreneurs through the " Sephora Stands ".
What are the areas of innovation addressed by Sephora Stands entrepreneurs?
ECO-RESPONSIBLE PRODUCTS
> Ecologic
Packaging made from waterproof and environmentally friendly paper bottles
> SeeThru
Solution for listing and displaying all product ingredients
> Curie co
Its aim is to replace all the chemical ingredients in our everyday products with organic marine materials.
DIGITAL EXPERIENCES
> Myavana
Hair health diagnosis and product recommendation application
> Gloss Genius
Complete appointment scheduling and customer knowledge solution for beauty professionals
> Proven
Personalized skincare products thanks to diagnostics and an extensive beauty database
OFFER DIVERSIFICATION
> Beauty Mix
Complete kits (robot + ingredients) for making everyday cosmetics at home: toothpaste, deodorant, creams...
> Polvos Magicos & Ho Karan
Superfood and cannabis-based cosmetics
> Tonik
Nutritional supplements that bring beauty and well-being from within
How do we work together?
In addition to finding nuggets, Sephora seeks to bring its social and environmental commitments to life through the "Sephora Stands" program, which focuses onwomen's entrepreneurship with "Sephora Accelerate" and support for local communities with "Classes for Confidence". These initiatives support a community of women who have created their own innovative start-ups in the beauty sector.
The "Sephora Accelerate" program lasts over 6 months and starts with a bootcamp to define the business model, then entrepreneurs benefit from personalized support from Sephora experts and funding to develop their project. The Demo Day closes the acceleration phase with a presentation of the final product in front of industry experts.