Australia is something of an anomaly among global beauty markets. Where in many countries, LVMH-owned Sephora has managed to gain pole position, or at least strike fear into the hearts of other multi-brand retailers, in Australia its growth has been stymied by one local player: Mecca.
It’s not just Sephora feeling the pressure. Department stores and specialty beauty outlets across the country struggle to compete with this behemoth. So much…