PARIS — Sephora is exiting Russia.
The prestige beauty retailer said Monday that it has inked an agreement to sell the entire shares in its subsidiary within the country to its general manager there.
The move, in response to Sephora in a press release, has been done to favor “continuity for workers.”
The LVMH Moët Hennessy Louis Vuitton-owned retailer in early March suspended its operations in Russia, after the beginning of the war in Ukraine.
On the time, Sephora issued a press release saying: “Given our increasing concerns in regards to the current context and the complexity to operate, we are going to suspend our activity in Russia until further notice. We'll close our stores and e-commerce inside the subsequent 24 hours. The security of our...
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