ASX-listed online retailer Adore Beauty opens new | Australian Markets

Burgeoning online retailer Adore Magnificence will open its second-ever in-person store at Melbourne’s Watergardens purchasing centre on Friday, promising customers personal remedy rooms, dermal remedy, facials, 65 in-store manufacturers, a digital kiosk to scan 14,000 merchandise and Tim Tams for each buy.

The new store in Melbourne’s outer northeast follows the opening of its first brick-and-mortar offering on the Westfield Southland centre in February.

Adore CEO Sacha Laing mentioned the Watergardens store would offer clients a “next-level beauty experience”.

“After the huge response from our community to our first store opening, we couldn’t be more excited to expand our offering with in-store treatments and even a dermal therapist on staff to answer our customers pressing skincare questions,” he mentioned on Thursday.

“Adore Beauty has always been about empowering our customers to make the right choice for them and their needs, and our newest store will continue that tradition through personalised advice and treatments.”

The store will function a curated choice of skincare, haircare, perfume, make-up and wellness merchandise, the company mentioned, together with manufacturers equivalent to AB LAB, BIODANCE, Burberry, Embryolisse, Estee Lauder, Murad, Facet, K18, Kylie Jenner Fragrances and Viviology.

For the month of April, the company mentioned wellness model IKKARI can be the store’s first model IKKARI would be the store’s first model ‘In Residence’ within the store’s remedy space.

The store opens at 9am on Friday and runs by means of to 9m.

Watergardens supervisor Trish Gardiner mentioned more and more people in Melbourne’s west had been in search of out premium life-style experiences.

“We are thrilled to be able to expand our retail offer by welcoming Adore Beauty to the centre,” she mentioned.

“Servicing a growing customer appetite for beauty and wellness experiences”.

Watergardens marks one other step within the ASX-listed company’s plan to open more than 25 new shops throughout Australia.

By subsequent 12 months, the company expects to boast a bodily presence in Victoria, NSW, Queensland and WA, placing it in direct competitors with retailers like Mecca and Sephora.

Adore’s half-year outcomes for the six months to December 31, 2024, confirmed revenues hitting $103m, a 2.3 per cent soar from the prior corresponding period.

Internet income after tax fell from $1m to $600,000.

“The company will establish a national retail store network of more than 25 stores across its Adore Beauty and iKOU brands, materially broadening its addressable market within the $13.9bn Australian beauty industry,” the company acknowledged.

“The stores will be deeply integrated with the online digital ecosystem and infrastructure leveraging Adore Beauty’s well established brand position to increase brand advocacy, awareness and new customer acquisition, and deliver significant incremental sales.”

The retailer presents customers some 300 manufacturers and 14,000 merchandise on its online platform and pulls collectively product info, opinions and podcasts to curate an expertise that has constructed up a cult following.

The company had $11.7m money available at December 31, down from $32.9m at June 30, 2024, which the company credited to a $20m upfront consideration for the acquisition of iKOU, accomplished over the period, and the initial capital outlay for the company’s first retail shops.

Mr Laing mentioned the new shops had been a “natural extension” of the company’s online ecosystem.

“With 25 years as Australia’s leading pureplay beauty authority our retail stores will be a natural extension of our online ecosystem with a deeply connected and immersive digital customer experience in-store,” he mentioned.

Inventory in Adore presently trades at 84c a share for a market capitalisation of $79m.