The expansion will see the creation of 100 new stores in the next three years, with new shop formats that focus specifically on beauty and the retailer's niche fragrance offering
The Fragrance Shop currently has 220 stores across the UK and Ireland
The Fragrance Shop (TFS) is set to open 100 new bricks-and-mortar stores across the UK and Ireland over the next three years.
The expansion plan aims to showcase the UK perfume retailer’s “commitment” to physical stores amid the current turbulence of the high street.
TFS said this has been made possible through a multi-million pound investment into its company infrastructure, including a new Distribution Centre in Trafford Park, Manchester, and automation (with wire guided trucks and state-of-the-art box packing machines).
The expanded portfolio will see the creation of shops focused specifically on the retailer’s beauty product range, as well as locations dedicated to niche perfumes.
This is in addition to TFS’ more traditional fragrance store format.
“Consumers still love the experience of shopping in-store for fragrance,” said Kam Birk, Property Director, The Fragrance Shop.
“Stores remain a priority within our innovation and growth strategy both domestically and internationally.”
Prime town centre locations, retail parks and outlet centres are key areas the retailer will focus on when choosing new sites.
When asked about expansion in the face of the cost of living crisis, Berni Hawkins, TFS' Chief Strategy and Growth Officer, told Cosmetics Business: "Our experience in recessionary times is ‘the lipstick effect’, whereby people dial down the big ticket items but beauty and fragrance are considered affordable luxury. Prices will go up but this is in line with market.
"We have built the business model to be incredibly efficient and have a team of innovative and agile thinkers who work on the data and act accordingly. Collaboration and focus in areas where we can be in control will help to offset the increased costs."
To assist with the store expansion programme, TFS has brought on CBRE, a global real estate advisor.
CBRE will work with joint agent, Hynes Illingworth, on the acquisitions.
“The Fragrance Shops commitment to physical retail comes at a time of much needed confidence for the sector and solidifies just how important the store is to the overall retail strategy,” said Nik McCarthy, Director of UK Retail at CBRE.
“We look forward to identifying well-placed, high-quality sites for our client and assisting them in this next phase of their expansion.”
TFS currently has 220 stores across the UK and Ireland.