Two global retailers are tipped to be opening stores as part of the new development happening at Sylvia Park.

The Herald understands French cosmetics retailer Sephora and beauty brand Victoria's Secret are among those who secured highly coveted spots at New Zealand's largest mall.

While Victoria's Secret has traded in New Zealand for a while, the news of a Sephora store at Sylvia Park comes after reports yesterday that the retailer would be opening its highly anticipated first store on Queen St.

Exactly when the two Sephora stores will open is unknown, though at least one will open this year in time for Christmas.

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Construction for the interior fit-out for Sephora's three-storey retail site located at 146-152 Queen St is tipped to begin in the coming weeks.

The Herald understands Sephora is sparing no cost to set up the store, and is said to be splashing out more than $5 million.

The flagship store will be similar in concept to other flagship stores it has located around the world. A source said there were rumours the fit-out includes an elevator, interesting lighting fixtures and elaborate signage.

READ MORE:Sephora setting up multi-million-dollar shop in NZ

Sephora has begun advertising for studio makeup artists for its flagship store. In the job advertisement it says its flagship store will open this year and it is looking for staff with "extraordinary makeup skills" to drive sales through workshops, tutorials and one-on-one client appointments.

Kiwi Property, the company that owns and operates Sylvia Park, neither confirmed nor denied the retailer would open a store in the mall.

"We are unable to comment on specific retailers at this time. Leasing of the new galleria level of Sylvia Park is progressing well and we're in talks with many local and international brands," Linda Trainer, general manager of retail at Kiwi Property, said.

"Sylvia Park is a desired location for many new retailers and we are excited about the brands that will be on offer."

Speculation of Sephora opening a New Zealand store has been rife for the best part of five years, though the retailer has remained tight-lipped on its plans for the New Zealand market.

After years of anticipation, Sephora is finally coming to New Zealand. Photo / Getty Images
After years of anticipation, Sephora is finally coming to New Zealand. Photo / Getty Images

Sephora has quietly been running a local online store and delivering its product around the country for quite some time, and in May last year registered Sephora New Zealand with the Companies Office, under parent company LVMH Moet Hennessy Louis Vuitton SE.

Heart of the City chief executive Viv Beck said Sephora's Queen St store would be good for beauty businesses trading in the area.

"The arrival of Sephora will be another jewel in the crown of our unique beauty offering, and further cements our position as the go-to destination for beauty. Its arrival will be good for other beauty businesses in the area - that's the benefit of agglomeration.

"It's an exciting time for the city centre, with major global brands choosing to open their flagship stores here, bringing new international flavour to our already diverse retail sector."

The Queen St strip is visited by more than 15 million people each year.

"With significant investment happening along the street, it's an obvious choice for big brands like Sephora to make their New Zealand debut," Beck said.