Sephora NZ accumulated $25m in losses before dropping Queen Street store

Sephora's now-closed Queen St store opened in 2019 to great fanfare. (Image: Chloe Paul)

Tue, 10 Dec 2024

Since incorporating a New Zealand subsidiary in May 2018, French multinational beauty product retailer Sephora has racked up $25 million in losses. In annual earnings lodged with the Companies Office on Tuesday, Sephora NZ said it made a net loss after tax of $3.9m in the year to Dec 31 last year, down 63% from a $10.6m loss the year prior. The company has accumulated losses of $25m and a total asset deficiency of $20.1m, as recorded by the accounts.Sephora NZ is a subsidiary of French luxury giant LVMH Moet Hennessy Louis Vuitton S...

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