LEED’s $5 billion investment in beauty supply retailer beauty society, Beauty, will enable the retailer to increase its reach, and expand its business in emerging markets, said John M. Hildebrand, the company’s chief executive.
“We’re confident in our vision, our vision for the future,” Hildebrant said at a news conference.
The company also said that the investment in Beauty will help it compete with online retailers such as Amazon, Wal-Mart and eBay.
Beauty’s move to a new global headquarters will allow the company to add more stores and expand into markets including the Middle East, Africa and Asia, said Richard A. Anderson, the retailer’s global head of strategy and retail.
The retailer will spend about $5 million a year in Asia, the Middle Eastern and Africa, he said.
The stock rose 2.2 percent to $50.59.
The price was up 3.6 percent since Hildebergnaid on Feb. 6.
The shares were up 4.3 percent in early trading.
Beauty said it expects to have its first store open by the end of the year in China, the world most populous country.
Hilderbrand, who was named CEO of the company in January, also announced plans to launch a new website and mobile app this year.
Hildabrand has already opened Beauty’s first store in Japan and plans to open another in Hong Kong.
The store will be the first in a planned expansion.
Beauty has about 100 stores in more than 100 countries, and has more than 20 million members, Hildebeest said.
“This is the most powerful and innovative retailer in the world,” Hildernaid said.
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