Sephora’s Greater China CEO Maggie Chan has stepped down after five years in the role.
The LVMH-owned retailer has yet to name Chan’s replacement to lead the company in the Chinese market.
However, her departure comes as Sephora last year revealed plans to shake up its strategy in the region, which is said to be key to meeting its global sales target of €20bn (US$21.8bn) in five years, up from an estimated €13bn ($15bn) in 2023.
The retailer has reportedly faced lagging sales in the region due to strong competition from local Chinese beauty retailers, as well as a challenging economic climate as the country reopens following the Covid-19 pandemic.
During her time at Sephora, Chan led the opening of Sephora’s first ‘store of the future’ concept boutique in Shanghai last year, designed to cater to the specific preferences of Chinese shoppers including dedicated spaces for make-up tutorials and skin care consultations.
The city also hosted Sephora’s Sephoria beauty festival in 2023, marking the first year the event was held outside of the US.
Chan’s departure follows a number of recent leadership changes within Sephora.
The company named Deborah Yeh as its Global CMO last October, responsible for growing Sephora’s global community and leading collaborations across regions.
It also appointed LVMH veteran Artemis Patrick as President of its North America business in the same month.
Read more:
- What beauty consumers were talking about on Reddit in 2023
- Sephora signs partnership with Reliance Retail Group to grow business in India
- Avon names Kristof Neirynck CEO as Angela Cretu steps down
- Revlon CEO Debra Perelman steps down
