Adore Beauty plans major expansion with over 25 new stores in Australia

Adore Beauty plans to open over 25 physical stores across Australia, marking its first move into brick-and-mortar retail after 25 years online. The first store opened in Melbourne earlier this month, with more locations set to follow. The company aims to expand its presence in Victoria, New South Wales, Queensland, and Western Australia. This expansion will enhance competition with established retailers like Mecca and Sephora. In its latest earnings report, Adore Beauty reported a 20% increase in total contactable customers and a revenue rise to $103 million. However, net profits fell from $1 million to $600,000.