ABSTRAK
Produk private label brand di Indonesia menunjukkan pertumbuhan dan adopsi yang lambat. Alasan dari lemahnya adopsi private label brand di Indonesia adalah karena sifat konsumen Indonesia yang brand loyal dan minimnya usaha retailer dalam mengiklankan produknya sehingga konsumen mempertanyakan kualitas produk private label brand. Ditengah lemahnya adopsi private label brand dan berkembangnya pasar konsmetik domestik, Sephora masuk ke pasar Indonesia sebagai retailer baru dengan menjual private label brandnya sendiri. Riset ini meneliti tentang perceived product quality, perceived risk, perceived relative price terhadap customer value dan willingness to rebuy terhadap private label brand Sephora. Olah data penelitian ini menggunakan LISREL-SEM. Hasil pada penelitian ini menunjukkan bahwa perceived product quality dan perceived price mempengaruhi perceived value yang berujung kepada willingness to rebuy produk private label brand Sephora. Pada penelitian ini perceived value terbukti memediasi perceived quality dan perceived price terhadap willingness to rebuy dan perceived quality terbukti memediasi perceived relative price terhadap perceived value. Sementara itu, perceived risk terbukti tidak memiliki pengaruh terhadap perceived value dan perceived risk terbukti tidak memediasi perceived quality dan perceived value produk private label brand Sephora.

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ABSTRACT
The growth and adoption of private label brand in Indonesia is proven to be sluggish. The reason behind the fall of private label adoption is because Indonesian consumers tend to be brand loyal and the retailers put less effort to advertise its private label brand product so that the quality of private label brand is questioned. In the fall of private label brand adoption and in the rise of the domestic cosmetics market industry, Sephora as an new entry player in the market sell its own private label brand. This research examines the impact of perceived product quality, perceived risk, perceived relative price towards customer value and willingness to rebuy of private label brand Sephora. The research data is run by LISREL SEM. The result of this research show that perceived product quality and perceived price influenced perceived value which also impacted willingness to rebuy Sephora s private label brand products. In this research perceived value is proven to mediate perceived quality and perceived price towards willingness to rebuy also perceived quality is proven to mediate perceived relative price towards perceived value. Meanwhile, perceived risk is proven having no impact on perceived value and perceived risk is proven having no mediating effect on perceived quality and perceived value of Sephora s private label brand products.