Sephor is taking a stand against what it sees as an overly aggressive pricing structure from competitor Norelco, CEO and cofounder Tom Yap said on Friday.
The retailer, which sells pens and other accessories to customers in the U.S. and Canada, announced plans to offer more affordable products at more locations, but only for Sephors customers, not those of its rivals.
The announcement comes on the heels of the company’s announcement on Friday that it was adding $5 off any order of $20 or more for its customers, who buy Sephoras with the intention of reselling it online.
The discount is available on all purchases made with SephORs.
We’re here to support the brands and products of Sephoros customers. “
It’s simply a matter of a company that has been a great partner and has built a reputation for customer service.
We’re here to support the brands and products of Sephoros customers.
We are not here to do business with competitors.”
Yap made the comments at a panel of investors at the annual Sephorus Investors’ Conference in New York City.
He later reiterated the company would continue to offer discounts for customers.
“We’re going to continue to take this as it comes,” Yab said.
“I think the industry has been very vocal about how they feel about this and we’re going with it.”
In response to questions from reporters, Sephoro spokeswoman Jessica Molloy told ESPNCric that the company had not heard about the plan and that Sephoress customers are entitled to the same discount regardless of whether they use the company.
“Our customers want to use their products, but they don’t want to have to pay for a product they aren’t actually using,” Molloh said.
“Sephora has been an excellent partner for Norellcos, and we will continue to partner with them to offer great products at affordable prices.”
Sephoro declined to comment further.
While the company has already taken a number of steps to try to keep costs down, it is unclear if the new pricing structure will have any effect on the overall profitability of Sephi.
The company’s stock, which rose 3.5 percent in after-hours trading on Friday, has fallen by more than a quarter in the past year.