A file photo show pedestrians pass a Sephora store at Bukit Bintang area in Kuala Lumpur, Malaysia. The brand is exiting Russia in wake of the war in Ukraine. Photo: Bloomberg
LVMH's retail beauty brand Sephora is selling its Russian subsidiary to the local general manager of the chain, the French company said on Monday (July 11), joining a flood of Western businesses leaving the country.
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, a few years after an initial investment.
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