The French chain of cosmetic stores Sephora announced the sale of 100% of the shares of its subsidiary in Russia to its local General Manager, reported the press service of the LVMH luxury holding, which owns Sephora and operated stores in 34 cities in Russia.
Sephora enters into an agreement for the sale of 100% of the shares of its subsidiary in Russia.
Sephora announces the signature of an agreement for the sale of 100% of the shares of its subsidiary in Russia to its local General Manager, aimed at favouring continuity for employees.
Going forward, this activity will be operated under the historical “Ile de Beauté” brand.
This transaction is subject to clearance by relevant authorities, including anti-trust authorities. The world’s biggest luxury group LVMH has suspended its business in Russia following Russia’s invasion of Ukraine. Russia represents about 2% to 3% of the global market for personal luxury goods, according to Bain estimates, quoted by bloomberg.
Sephora’s unconventional approach has made it one off the most loved beauty communities in the world.
Sephora’s unique shopping experience offers beauty clients across the world an unparalleled choice among premium brand perfumes and cosmetics. The premium stores offer passionate beauty fans across the world a privileged freedom to touch and test products since 1969. The House provides a superior selection of quality products and always keeps pace with the latest trends.
The company was founded in Limoges in 1970 and is currently based in Paris. Sephora is owned by luxury conglomerate LVMH as of 1997.The name comes from the Greek spelling of Zipporah, wife of Moses.
Sephora’s flagship on Champs-Elysées in Paris has been a revered temple of beauty since it opened in 1995. With 250 brands and over 78,000 products, it provides a vast selection of on-trend products and innovative concepts, such as “beauty bars” to its customers.
Sephora is present in 35 countries with over 2,600 stores. Between 2011 and 2020 Sephora opened an additional 1000 stores and expanded into 12 new countries. The success of this expansion has been built upon Sephora’s exceptional recruitment strategy, which has built teams of extraordinarily high quality.
Sephora features a variety of beauty products from more than 300 brands, including NARS Cosmetics, Make Up For Ever, Too Faced Cosmetics, One Size, Fenty, Milk, Bite Beauty, Anastasia Beverly Hills, Coto Beauty, Urban Decay, Benefit Cosmetics, First Aid Beauty, Lancôme Cosmetics, Sunday Riley Skincare, philosophy, Jo Malone London, Atelier Cologne, YSL Beauty by Yves Saint Laurent, Tatcha, Huda Beauty, Kat Von D, and Bobbi Brown Cosmetics. Sephora also features its own make-up, skincare, beauty tools and accessories under the brand name Sephora Collection.