Should ICI Paris XL, April, DI, Kruidvat… be worried?
By Kadir Duran – Bruxelles Korner

For years, one question kept coming back like a seasonal headline:
“Why isn’t Sephora in Belgium yet?”

Behind the scenes, whispers spoke of secret negotiations, tacit agreements, even non-aggression pacts with local giants such as ICI Paris XL or Planet Parfum (now April).
But this time, it’s official: Sephora is coming to Belgium.

A brand new Belgian subsidiary signed LVMH

According to official filings, Sephora SAS, owned by luxury titan LVMH, has just created Sephora Belgium, headquartered on Avenue Louise, one of Brussels’ most prestigious addresses.
Hardly a quiet entrance.

The company is led by two major executives:

Benoît Ponte, CEO of Sephora France
Marie-Aimée Bramaud du Boucheron, CFO

Asked for comment, the brand sticks to a terse: “No comment.”
But the corporate purpose of the new subsidiary leaves no doubt: retail, e-commerce, real estate, financing.
Everything required to open stores.

A global powerhouse generating €18.2 billion a year

LVMH’s “Selective Retailing” division (Sephora, DFS, Le Bon Marché) has been the group’s key growth engine for several quarters.

Mind-blowing figures:

€18.2 billion in revenue (2024)
3,000 stores
Operations in 35 countries
52,000 employees
Over 500 brands, many exclusive

In Belgium, where shoppers still travel to Lille or Luxembourg for the Sephora experience, a physical launch could create a seismic shift in the beauty landscape.

A success story but not without setbacks

Founded in 1969 and acquired by LVMH in 1997, Sephora’s rise has been explosive.
But not everything has been smooth: Japan, Germany and the UK opened in the early 2000s quickly shut down.

Since then, the strategy has been recalibrated.
And growth has taken off again.

A tsunami for ICI Paris XL, April, DI, Inno… and even Kruidvat

Sephora’s arrival comes at the worst possible time for many Belgian players.

ICI Paris XL

The historic leader, weakened by growing competition from AS Watson.
Its younger, trend-driven clientele may shift overnight toward Sephora.

April (formerly Planet Parfum)

Still fragile after a repositioning and lacking exclusive brands.
Caught between discount (Kruidvat) and premium (Sephora), April risks being squeezed hard.

DI

Perhaps the most vulnerable.
Positioned halfway between perfumery and accessible beauty, DI could lose:

customers seeking premium → to Sephora
customers seeking low prices → to Kruidvat

Only a rapid modernization and a “clean beauty / accessible chic” strategy could save it.

Kruidvat

Less directly threatened it plays in a different league (discount, volume).
But it may lose customers wishing to trade up.

Inno

In financial turbulence and with ageing beauty areas, the arrival of Sephora adds enormous pressure.

Recent openings of Douglas stores showed public appetite: lines formed in Antwerp, Brussels and Hasselt.
Now imagine that… but with Sephora.

Why now? Sephora’s timing is no accident

Several factors make Belgium the perfect next step:

A wealthy market still underdeveloped by international beauty players
Belgian consumers already spending heavily in France and Luxembourg
An explosion in online beauty shopping that boosted Sephora’s visibility
Historic Belgian retailers facing their most fragile period in years

An opportunity LVMH clearly could not ignore.

What this changes for consumers, the market, and Brussels

For consumers

✔️ More choice
✔️ Exclusive brands
✔️ A modern retail experience
✔️ Increased competition → potentially more attractive prices

For the Belgian market

⚠️ Brutal redistribution of market shares
⚠️ Enormous pressure on long-established perfumeries
⚠️ Accelerated modernization of the sector
⚠️ Possible closures of underperforming stores

For Brussels

A flagship store on Avenue Louise, Toison d’Or, or City2 seems likely a new commercial anchor for the capital.

Why Sephora is such a threat to Belgian retailers

Because it combines four strengths no Belgian chain has been able to replicate:

A global brand with massive influence
Exclusive powerhouse labels (Fenty, Huda Beauty, Rare Beauty, Tarte, Drunk Elephant…)
Seamless omnichannel mastery (online + in-store)
Huge influence among Gen Z via TikTok, YouTube, Instagram

It’s not just a shop, it’s an ecosystem.

But not all is lost: each retailer can still reinvent itself

ICI Paris XL → Leverage its large network, strong name recognition and premium services
April → Focus on niche skincare and differentiated expertise
DI → Push into clean beauty, natural products, haircare, and neighbourhood convenience
Kruidvat → Stay true to its discount DNA
Inno → Modernize beauty halls to avoid customer flight

In short: an unavoidable shock not an extinction

Sephora’s arrival will redraw the entire Belgian beauty map.
Some players will lose ground.
Others will pivot and survive.

But one thing is certain:

Belgium is entering a new era of beauty retail.