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annual report


A SPARKLING year


TABLE OF /

contents


1/

hello

2/

keep your eyes open

3/

current trends

4/

foundation for finance

5/

goodbye


“hello”


letter from

THE CEO

I

am pleased to see that our concept of creation, our passion to take our products to the highest echelon of quality and our desire to offer an exceptional retail experience at our brands, perfectly fits our customers’ expectations. The desire for excellence, the recognition of know-how and fine craftsmanship and the culture of authentic quality are enjoying significant growth throughout the world. This trend will remain prominent in the years ahead, opening up for us magnificent perspectives for the future. I firmly believe that if we are to inspire our customers, we must have dreams of our own. This is why we need to continue to invest in the know-how and talents of our women and men, so that we can all feel part of a responsible enterprise project. This project is both financial and cultural, as can be seen from the support we have given over the last two decades to the fields of

history, art and contemporary design. To my mind, Sephora’s commitment as a corporate citizen is completely enshrined in our raison d’être. I would like to assure our shareholders – who are also our partners in this great project – that our company will continue its efforts to increase its value and ensure that our responsible growth model, which relies on a long term vision shared by everyone in the Group, is here to stay.allowed the hiring of around 18 000 employees and some major investments for the future. The excellent performance of the Sephora share price reflects the quality of what we have achieved and investors’ confidence in our strategy and our future. A future underpinned by our unique, ever more vibrant heritage. A future that we are building on solid foundations, as we pursue our long term vision.

Bernard Arnault chairman & ceo


keep

urban decay FINISHING POWDER

your eyes

open

Designed for the stars of film and flat screens, this hightech finishing powder contains silky, micro-fine particles that fool the eyes with “optical blurring” and miraculously seem to airbrush away skin’s imperfections

urban decay NAKED PALETTE

upcoming campaigns These dazzling new products are generating buzz even before they hit the shelves. Promotions with makeup blogs and YouTube gurus are driving these amazing palettes, perfumes and powders to our main consumers.

This long, lean, and seductive case comes packed with 12 gorgeous neutrals that work for absolutely everyone. Shades range from delicate champagne to gritty gunmetal, and feature five stunning new shades.


benefit GLOWLA

Glowla’s portable makeup kit is packed with everything you need for an unbelievably beautiful look. Glide on warm, luscious color with the five shade eyeshadow palette & pretty pink lip gloss. It’s sooo good to be glowla!

benefit CELEBUTANTE

THE ‘personal stylist’ makeup kit for THE celeb look. This portable kit is packed with everything you need to look like a Hollywood celebutante ... eyes, lips, cheeks, you name it! It’s a must-have for A-list glamour! Contains All Of Benefit’s Best Sellers In A Glamorous Clutch-Style Case!

bare minerals LOOSE FOUNDATION

Made of only pure, crushed minerals from the earth, bareMinerals SPF 15 Foundation looks like a powder, feels like a cream, and buffs on like silk, giving skin a natural luminosity while feeling as if you are not wearing any makeup at all.

yves saint laurent

PARISIENNE PERFUME

The essence of a woman who is incredibly free—she is not from Paris, but Paris adopts her. She knows how to love, how to live. Parisienne is the fragrance of ultra-femininity and sensuality, built with notes of blackberry, damask rose, and sandalwood.


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n o i t a c i t s i rs soph

o l o c e n i n i d e fem r i p s n i e g a t vin


FOUNDATION for

FINANCE financial highlights NUMBERS IN MILLIONS

2011 2010 %CHANGE

net sales gross margin operating income operating income as a % of net sales net income net income per share

$394.5 $282.1 $138.8 35.4% $50.2 $0.64

$269.3 $184.8 $77.3 29.8% $23.9 $0.34

51.2% 52.7% 79.5% 110.0% 91.2%


it’s been a

fabulous

year, and we can’t wait for 2012. see you

next time!


“goodbye”


525 Market Street, 3rd Floor San Francisco, CA 94105

1-877-737-4672 www.sephora.com


Sephora Annual Report 2011