LVMH’s Beauty Retailer Sephora Makes Permanent Exit From Russia
- Sephora employs 1,200 in 88 stores across the country
- Locations closed on March 8 following invasion of Ukraine
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Sephora, the cosmetics retailer owned by LVMH, agreed to sell its Russian subsidiary, making it the latest brand to pull out of the country following its invasion of Ukraine.
LVMH is selling Sephora’s Russia business to the local general manager, the company said on Monday in an emailed statement. In early March, the group temporarily closed its Russian stores.