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

Ile de Beauté is a local chain bought by Sephora in 2016

Sephora to reopen in Russia with a renewed branding. It will henceforth be known as Ile de Beauté in Russia. This is the latest rebranding in the country's retail space as firms exit the country over Moscow's actions in Ukraine. Ile de Beauté thanked its returning customers and also promised to house a wide range of international brands, and also confirmed that its previously purchased gift cards would continue to be valid.

Many Western retailers closed their stores in early March and some have since extricated themselves fully, in the luxury retail space, many stores have simply remained temporarily closed in Moscow for months, with items removed from displays. Sephora, which had 88 stores in Russia with 1,200 employees, said it has decided to sell 100% of the shares of its subsidiary in Russia to its local general manager. Sephora on Monday said the deal had closed on Oct. 7. Ile de Beauté is a local chain bought by Sephora in 2016, a few years after an initial investment. The retail chain began rebranding stores in Russia under the Sephora banner in 2018 and was still in the process of doing so when the global pandemic hit in 2020