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CVS Caremark to shut down Beauty 360
March 22nd, 2012
WOONSOCKET, R.I. – CVS Caremark Corp. plans to close all of its Beauty 360 luxury beauty outlets later this spring.
The company said in a statement Thursday that it will shut down its 25 Beauty 360 stores, as well as its related e-commerce business, on May 19. The stores are part of the CVS/pharmacy retail drug store business.
Beauty 360 made its debut in November 2008 with the opening of a location next to a CVS/pharmacy store at Dupont Circle in Washington, D.C. The Beauty 360 website, beauty360.com, was launched in January 2010.
"CVS/pharmacy has made the decision to refocus our efforts on the growth and development of our core CVS/pharmacy beauty business in order to satisfy a wider group of our customers," CVS said in its statement. "As a result, we will close all 25 Beauty 360 locations and cease operation of our Beauty 360 e-commerce business, effective May 19, 2012."
Citing the success of some key new offerings, CVS noted that it aims to focus on growing its beauty care business within its vast network of drug stores.
"In 2011, we successfully launched the CVS/pharmacy Beauty Club and introduced our own exclusive beauty brand, Nuance Salma Hayek," the company stated. "The CVS Beauty Club was the first beauty loyalty program introduced at a mass retailer and has reached 10 million members in the year since launching. Nuance Salma Hayek has been met with both customer and industry accolades and also exceeded sales expectations for the year. This kind of success within our core beauty offering clearly demonstrates the tremendous opportunity we have to maintain and grow our leadership position in beauty through our over 7,300 CVS/pharmacy stores."
Designed as a luxury beauty care destination, Beauty 360 serves up a broad assortment of prestige cosmetic, skin care, hair care, fragrance and grooming brands and, according to CVS, employs an "experiential model" of selling that stresses service and proximity to the customer's neighborhood. Along with beauty consultants, the stores feature trained and licensed beauty professionals offering such services as mini-manicures, express facials, hand massages and makeup application.
In its statement, CVS described Beauty 360 as "a 25-store pilot" and said the concept "proved to be a tremendous learning experience for our organization."
"There have been many aspects of the Beauty 360 concept that were positive," the company stated. "In the past four years, we have learned a great deal about our beauty customer through our experience with Beauty 360 and plan to apply many of these learnings to future enhancements within our beauty department at CVS/pharmacy."