Tweet This just in from my Fire Island house friend Willis who works in finance...
WOONSOCKET, R.I. — CVS Pharmacy is talking about a revolution.
The growth-minded drugstore chain has drafted plans to open upscale beauty emporiums — about the size of a Sephora store — filled with previously untouchable department store brands.
To drive home the drugstore chain’s seriousness about tackling prestige beauty, the concept will be called Beauty 360, with no mention of CVS in sight.
The first concept store is slated to open by year’s end in a major East Coast city, Mike Bloom, CVS’ senior vice president of merchandising, told WWD exclusively. Another will open weeks later on the West Coast, he added.
Bloom would not elaborate on the rollout strategy, but sources briefed on the initiative said the initial concept stores are planned for Washington, D.C., and Sacramento, Calif., and long-term plans call for 500 to 1,000 stores, with about 100 slated to open in the next year.
Click here to read more.
Image credit: WWD