New York -- Sephora plans to open 50 stores in Latin America by 2016, the San Francisco Business Times reported.
Sephora opened its first Latin American store in 2011, in Mexico City. It was followed by locations in Puebla and Guadalajara and another one in Mexico City in 2012. It plans to open an additional five locations in the country in 2013.
It is also expanding in Brazil — the third largest beauty market in the world — with four new stores this year and another six in the pipeline, according to the report.