Premium beauty retailer Space NK has experienced a significant boost in sales during the festive period and is now planning to invest more into its physical stores business. Owned by Manzanita Capital, the London-based company achieved a year-on-year sales growth of 28% in November and December, with sales during the festive season surpassing those of 2019 by a remarkable 60%. This impressive performance can be attributed to several factors, including the company’s investment in its digital operations and doubled warehouse capacity. Additionally, the lack of pandemic restrictions since 2019 and the opening of a flagship store at the new Battersea Power Station shopping mall have contributed to this success.

The opening of the Battersea store marked a significant milestone for Space NK, as it sought to enhance the customer experience in its physical stores. This new location introduced sustainability-focused refill stations and skincare treatment rooms. With a total of 73 stores in the UK, including 23 in London, Space NK strategically positions its stores in key shopping areas to cater to a wide customer base.

In line with its growth plans, Space NK will open an upsized store at Westfield London this week, which is four times larger than its previous location. This follows the successful launch of a two-floor shop in London’s Covent Garden last summer. CEO Andy Lightfoot has announced plans for “at least” four more store openings in the UK this year, emphasizing the importance of physical retail in providing an essential aspect of the customer experience. Lightfoot further stated that Space NK will continue to evolve its store experience in 2023 to connect with both existing and new customers.

The success of Space NK demonstrates the resilience of the beauty industry during challenging times and underscores the significance of adapting and investing in both digital and physical retail strategies. Through embracing innovative concepts and expanding its store footprint, Space NK is poised for continued growth and success in the premium beauty market.

Useful links:
1. Space NK Official Website: Visit Space NK’s official website to explore their premium beauty products and learn more about their brand.
2. Business of Fashion article: Read this article from Business of Fashion to gain more insights into Space NK’s success and their plans for future growth in the beauty industry.