Shares of Kohl's (NYSE: KSS) were moving higher today after the department-store chain announced a new strategic partnership with Sephora, a division of Louis Vuitton Moet Hennessy and the largest specialty beauty retailer in the world. As a result, Kohl's stock was up 15.1% as of 11:17 a.m. EST.
The companies said that the new partnership, "Sephora at Kohl's," would include 2,500 square-foot Sephora shops prominently located at the front of Kohl's stores. Sephora plans to open 200 of these stores in the fall of 2021, which will expand to at least 850 locations by 2023. There will also be a digital component to the partnership. Next fall, the Kohls.com online beauty selection will convert to be exclusively Sephora merchandise.
Image source: Kohl's.
Source Fool.com