Kohl is the oldest form of eyeliner and comes in a few forms. From traditional pencils with a mechanical twist, to soft kohl and kajal formulas that can be smudged out for softer, lived-in lines or drawn on for bolder smokey effects. There are also versatile gel textures that allow plenty of playtime to buff and smudge. And, for ultimate artistry, there are even liquid liners that offer graphic precision from wafer thin sharp lines to winged out feline flicks.
Kohl’s has a strong liquidity profile with FCF of about $300 million in 2022 and about $2 billion annually in the future (assuming a modest EBITDA rebound). However, it faces longer-term secular headwinds including softening discretionary spending on apparel and home, declining mall traffic (less impactful to Kohl’s given its off-mall real estate positioning), and encroaching competition from newer channels such as value-oriented and online players. These headwinds will likely impede Kohl’s ability to maintain market share in the near term. Nonetheless, Kohl’s strategy of expanding its beauty presence with the Sephora partnership, investing in its digital/omnichannel capabilities, growing its athleisure and activewear brands, and adding unique and exclusive brands should help it maintain customer loyalty and traffic longer term. However, the company’s execution is key to achieving its business model evolution objectives. kohl uk