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, 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.
