Come mid-November/early December, depending on where you live in the U.S., you may look at your CVS in a whole new way. The friendly neighborhood drugstore chain is stepping into the beauty big leagues, with the roll out of its new upscale beauty store-within-store concept called Beauty 360. The first such store-within-store will debut in Washington D.C.’s Dupont Circle with a second opening later this year in Mission Viejo, California.
The store chain is banking on consumers in this economic uncertainty who are tightening their purse strings, to continue to treat themselves to smaller, less impacting luxuries like lipsticks, eye and face creams. “It may not be a vacation, or it might not be the new dress, but you know what, the $15 lipstick might not have the same pinch to her that the rest of those higher priced ones do,” said Mike Bloom, senior vice president of merchandising at CVS in his November 3 interview with WWD.
Make no mistake though, in the new concept, you will not find the Revlon’s, L’Oreals or the Cover Girl cosmetics, but rather higher price point beauty lines like Borba, Laura Geller and Canyon Ranch products, with price ranges of $15 to $170. Although the concept could make for stand alone stores, currently the company only has plans to expand into existing stores where there is enough room to have the true store-within-store concept, namely about 1,000 of their West Coast locations. I don’t know about you, but I can’t imagine walking into CVS or their 360 and spending upwards of $50 for a beauty product, that seems reserved for the high-end department stores where the overall concept is luxury, not just one part of it. But perhaps, that is just me.