The document summarizes the history and business model of Sephora, a major beauty retailer. It traces Sephora's origins back to France in 1969 and its expansion globally, including the first US store opening in 1999. Sephora pioneered an "assisted self-service" approach where customers can touch and try products with the help of beauty advisors. The business model helped transform the industry from hidden cosmetics counters to a more interactive experience. Sephora has continued innovating through new technologies and focusing on diversity and vegan, cruelty-free brands.