LVMH’s Sephora to sell its Russian subsidiary, plans to make permanent exit
French luxury good maker LVMH’s retail beauty brand Sephora on Monday said it is selling its Russian subsidiary to a local general manager of the chain, making it the latest brand to pull out of the country following its invasion of Ukraine
By Arghyadeep Dutta
Published - Jul 11, 2022, 05:39 PM ET
Last Updated - Mar 11, 2024, 10:13 AM EDT
• Sephora employs 1,200 in 88 stores across the country
• Locations closed on March 8 following invasion of Ukraine
French luxury good maker LVMH’s retail beauty brand Sephora on Monday said it is selling its Russian subsidiary to a local general manager of the chain, making it the latest brand to pull out of the country following its invasion of Ukraine.
Sephora, which has 88 stores in Russia with 1,200 employees, will now operate under the “Ile de Beaute” brand, a local chain it bought in 2016, the company said in an emailed statement to Bloomberg.
