Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Early Facebook investor and Trump supporter Peter Thiel weighed in on the Democrats taking on the president in 2020, saying he was "most scared' by Elizabeth Warren.Politicsread more
Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
Beto O'Rourke's campaign for the 2020 election raised just $3.6 million in the second quarter of this year, putting him in the lower tier of candidates who have struggled to...2020 Electionsread more
Von der Leyen, one of the longest serving ministers in Germany, has tried to woo European lawmakers over the last two weeks.Europe Newsread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
Sephora said it's planting its "smallest footprint" in the U.S. yet with the launch of freestanding makeup studios.
The beauty retailer announced plans Friday to roll out the new Sephora Studio concept across the U.S., with the first location opening in Boston this week. The studios will be about 2,000 square feet, less than half the size of a typical 5,500-square-foot Sephora store.
"In today's retail environment, where very little is constant and clients' expectations are ever-evolving, one thing has remained true for [Sephora]: there is no better way to create meaningful connections with clients than through personalized experiences and a customized approach to beauty," Calvin McDonald, CEO of Sephora Americas, said in a statement about the launch.
"We could not be more focused on that notion than we are with the opening of [Sephora] Studio," he said. "The Studio merges the best of an inclusive neighborhood retail environment with best-in-class digital tools that enable our expert beauty advisors to customize recommendations on an individual basis."
This is the next "logical step" for Sephora, GlobalData Retail managing director Neil Saunders told CNBC. "Smaller stores give Sephora an opportunity to reach new neighborhoods and potentially new audiences."
Sephora said its smaller studios will be located outside of malls and are going to feature digital components and more curated experiences for shoppers during their visits. Order-in-store and same-day pickup options for online purchases will also be available there.
"The smaller stores' focus on beauty services is right and taps into consumer demand," Saunders added.
As foot traffic has been waning at many brick-and-mortar retail locations of late, retailers are looking for ways to bring shoppers back. Sephora hopes to do that by offering on-demand one-on-one services — 45-minute makeovers and 15-minute mini facials — at its new studios.
Additionally, the Sephora Studio will be the first store to offer what the beauty retailer is calling a 75-minute "Custom Makeover Plus."
"The truth is, there are many locations without easy access to Sephora, but where beauty products and services sell well, at players like Ulta, " Saunders said. A freestanding Sephora Studio will now present "a threat for other players, but a great opportunity for Sephora," he said.
Today, Sephora operates roughly 2,300 stores globally.