Sephora is the definitive destination for prestige beauty, serving as a high-productivity Primary Anchor for Class A regional malls, iconic high-street corridors, and premier lifestyle centers. Known for its open-sell environment and tech-enabled "Beauty Insider" ecosystem, Sephora drives world-class sales-per-square-foot by curating over 340 brands alongside its private-label Sephora Collection. Under the leadership of North America CEO Artemis Patrick, the brand is executing a 2026 "Beauty Multiverse" strategy, which includes the return of its massive SEPHORiA experiential event to Los Angeles in March 2026 and the highly anticipated launch of M·A·C Cosmetics across its U.S. fleet in early 2026. For landlords and developers, Sephora is a "recession-resilient" traffic magnet that attracts a highly engaged, Gen Z and Millennial-heavy demographic. Its real estate strategy focuses on high-visibility flagship positions (8,000–10,000 SF) and data-driven neighborhood boutiques (4,000–6,000 SF) that integrate seamlessly with omnichannel services like Same-Day Unlimited delivery and "Buy Online, Pick Up In Store" (BOPIS).