L’Oréal-owned NYX Cosmetics is seeing tremendous success with its first Canadian stores and according to its parent company’s Canadian head, NYX will look to double its Canadian store count in 2017. NYX’s first freestanding Canadian store opened in the fall of 2015, and the company now operates eight stores in this country.
Seven of those eight stores are in the Greater Toronto Area, and one is at Ottawa’s CF Rideau Centre. NYX’s first Canadian store opened at Mississauga’s Square One in October of 2015, followed by a freestanding unit shortly thereafter on Toronto’s popular Queen Street West. More locations opened in 2016 and last month, we attended the Yorkdale Shopping Centre store debut which saw hundreds of excited fans line up for an in-store promotion.
NYX (Named after the Greek goddess of the night, pronounced ‘Nix’) was founded by Toni Ko in 1999, and is headquartered in Los Angeles. The brand is known for its high quality, affordably priced rich-pigment cosmetics, which have gained a loyal following both with makeup artists as well as the general public. L’Oréal bought NYX in 2014, and has expanded the brand significantly to include product lines in retailers selling cosmetics such as Canadian retailers Shoppers Drug Mart, Rexall and London Drugs.
According to L’Oréal Canada’s Chief Retail Officer, Jared MacKay, the NYX brand is “on fire” in this country. NYX is seeing exceptional growth with its freestanding stores, which compliment the brand’s wholesale accounts by enhancing brand awareness while featuring expanded product lines and experiences. He credits social media for contributing to NYX’s popularity, which has a huge following among younger consumers seeking out cosmetics at a popular price point. The brand also features a wide variety of pigment-rich cosmetics, including foundation in various shades that match almost any skin tone, unlike many competitors.
Following NYX’s Ontario expansion, the brand will look to open stores in selected Canadian markets, with a target of about eight locations in 2017. Mr. MacKay said that target markets would include British Columbia and Alberta, among other regions, and said that a number of potential deals are in the works. NYX is working with brokerage Northwest Atlantic for its Canadian store expansion, and is ideally seeking retail space in the 1,000 to 1,200 square foot range.
