With hundreds of new doors opening in various formats, cosmetics specialty and vertically integrated stores, such as Ulta, Sephora, Bluemercury, NYX, Kiko Milano, and e.l.f., have grown at a compound annual growth rate of nearly 19% over the past five years.
Vertically-oriented boutique such as NYX, e.l.f., and Kiko Milano, are conquering local malls with unique concepts targeted to younger consumers at lower price points.