According to Realty Check, Sephora plans to expand its already-large presence in New York City with a new megastore near the High Line.
The LVMH-owned brand has set its sights on a 6,200-square-foot store in Brookfield Properties' West Manhattan complex between Ninth and 10th Avenues to open next year, retail industry sources said.
The property will join “wellness” tenants such as Silver Mirror, Peloton Studio and Reset by Therabody at Related Companies' vibrant 8-acre complex on the east side of Hudson Yards.
Brookfield did not confirm or comment on the Sephora lease, and Sephora did not respond to an email seeking comment.
Officials said last year's opening of the Moynihan Connector, which links High Line Park to Manhattan West Public Plaza, significantly increased foot traffic to the complex, which includes 6 million square feet of rentable office space and 844 rental apartments.
A retail analyst, who asked not to be named, said retailers in West Manhattan are enjoying a 20% year-over-year sales increase so far in 2024.
Restaurants and eateries in this trendy neighborhood include the enormous PJ Clarke's Oyster Bar, Danny Meyer's Ci Siamo, and Zou Zou's at the Pendry Hotel.
This isn't Sephora's first expansion to the Far West Side.
The cosmetics and beauty giant had a store at Hudson Yards shopping mall, but it was one of several major brands to close its doors since the pandemic began.
The chain has about 27 stores in the city, including its largest in the U.S., on West 34th Street, and a soon-to-open store on West 125th Street in Harlem.
LVMH Chief Executive Officer Bernard Arnault, the world's fifth-richest man according to Forbes magazine, praised Sephora's “remarkable performance” in an investor presentation in January, saying it had “exceeded all expectations.”
The popular beauty brand is said to be the driving force behind LVMH's “Selective Retail” division, which is expected to report sales of $19.8 billion in 2023.
