07.11.22
Sephora will exit Russia. The prestige beauty retailer signed an agreement today to sell all of the shares in its subsidiary in the country to its general manager there. After the start of the war in Ukraine, the LVMH Moët Hennessy Louis Vuitton-owned retailer suspended its operations in Russia.
“Given our increasing concerns about the current context and the complexity to operate, we will suspend our activity in Russia until further notice," Sephora said. "We will close our stores and e-commerce within the next 24 hours. The safety of our local teams is our priority and we will continue to support them in this difficult time.”
Once the deal with the Sephora general manager in Russia closes, the activity will be operated under the Russian retail brand Île de Beauté.
“Given our increasing concerns about the current context and the complexity to operate, we will suspend our activity in Russia until further notice," Sephora said. "We will close our stores and e-commerce within the next 24 hours. The safety of our local teams is our priority and we will continue to support them in this difficult time.”
Once the deal with the Sephora general manager in Russia closes, the activity will be operated under the Russian retail brand Île de Beauté.