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Former Sephora stores reopen in Russia under new ownership, Ile de Beauté brand

Some of beauty brand LVMH Sephora’s stores reopened in Russia on Monday as Ile de Beauté, the Russian company said, the latest rebranding in the country’s retail space as businesses leave the country following Moscow’s actions in Ukraine.

In a post on its website, Ile de Beauté thanked loyal customers, promising a wide range of international brands, and said previously purchased gift cards would still be valid.

“A lot has changed since our last meeting,” the company said. “We were forced to suspend the operation of our stores, but kept all jobs and continued to support employees, while working in parallel to overhaul the company’s internal processes.”

Dozens of Western retailers closed in early March and while some have since cleared completely, in the luxury retail space many stores have simply remained temporarily closed in Moscow for months, with items pulled from shelves .

Sephora, which had 88 stores in Russia and 1,200 employees, announced in July that it had agreed to sell 100% of its subsidiary’s shares in Russia to its local chief executive. Sephora said Monday that the deal closed on Oct. 7.

Ile de Beauté is a local brand that Sephora acquired in 2016, a few years after an initial investment.

The retail chain began renaming its stores in Russia under the Sephora banner in 2018 and was still doing so when the global pandemic hit in 2020.

By Alexander Marrow; additional reporting by Mimosa Spencer; Editing by Bernadette Baum and Louise Heavens

*This content was produced in Russia where the law limits coverage of Russian military operations in Ukraine

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