LVMH couldn't protect its new business development unit from the effects of the coronavirus. Kendo, the beauty incubator inside LVMH
Moët Hennessy Louis Vuitton, laid off 10% of its staff this week. Kendo is the force behind many of the brands sold at Sephora
. A source told Women's Wear Daily that approximately 50 employees were impacted.
“In light of the COVID-19 health crisis and the resulting impact on business, Kendo
made the difficult decision to reduce the size of certain teams. We worked hard to keep the reductions as limited as possible,” a Kendo spokeswoman told WWD.