If making the pages of Glamour magazine was a strategic benchmark for its “Beauty Differentiation” program, score a win Walgreens. The program, which kicked off in 2016, seeks to build on the company’s existing strengths (such as beauty brands No7 and Soap & Glory) with an expanded offering of higher-end and prestige brands (along with refocused floor space) to become a destination of choice for beauty products.
The addition of NYX is a signature move for the program. The beloved brand of millennials, NYX offers the cache of a prestige brand at beauty-on-a-budget prices. Acquired by L’Oréal in 2014, NYX has plans of its own. Since opening its first NYX retail location in 2015, the company has added 31 additional stores and plans to add another 25 in the next 12 months, according to CSG’s Drug Stores & HBC Chains database. An even larger profile for the brand (that’s agnostic as to where consumers ultimately purchase their products) stands to provide Walgreens with added value when it completes the rollout of NYX to approximately 2,000 stores by the fall of this year.
Now, if only that whole Rite Aid thing would fall into place as neatly . . .