Next to open five beauty halls in former Debenhams stores in the UK
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British clothes retailer Next will open five standalone beauty halls in former Debenhams stores across the country as a first step in its ambition to become a new force in beauty retailing, the company said.
Next will be taking on Boots, Superdrug, John Lewis and Debenhams itself in a health and beauty market worth 22 billion pounds ($27 billion) in 2018 and forecast to grow nearly 17% in the five years to 2023, according to researcher GlobalData.
Despite the coronavirus lockdown and huge recession on the horizon, Next snapped up the space in five shopping malls owned by Hammerson, seeing an opportunity for growth by extending its online beauty business to physical stores.
The move by Next is a sign that retailers with stronger finances are taking advantage of opportunities as weaker rivals battle to survive the pandemic.
Struggling department store chain Debenhams, which is in administration, said on Wednesday it would not reopen the five stores leased from Hammerson after failing to agree rent terms.
All Debenhams and Next stores in Britain are currently closed as part of the country’s lockdown to reduce the spread of the coronavirus.
