LVMH-owned Sephora Exit from Taiwan Market

Sephora, the cosmetics brand under LVMH, announced that its China Taiwan official website and APP will stop operation from 11 May.

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Sephora, the cosmetics brand under LVMH, announced that its China Taiwan official website and APP will stop operation after a year and a half operation, with its last day of business being 11 May.

in October 2021, Sephora entered the China Taiwan market through online shopping, and now it has only been a year and a half since its debut in China Taiwan.

According to the Sephora official website, orders can still be placed via the Sephora app or website until 23:59 on May 10th, 2023, and orders placed before the cessation of operations will still be shipped normally.

In 2022, LVMH, the parent company of Sephora, recorded revenue of €79.2 billion ($87.55 billion) and profit from recurring operations of €21.1 billion ($23.32 billion), both saw growth of 23%, with a remarkable rebound for Sephora, LVMH said Sephora confirmed its place as world leader in the distribution of beauty products.

In 2022, Sephora saw "particularly strong" momentum in North America, Europe, the Middle East, and most Southeast Asian countries. The beauty retailer also invested in its omnichannel strategy during the period to enhance the online and in-store purchasing experience for its customers.

In July 2022, it is reported that Sephora announced that it was selling its Russian subsidiary to the local general manager of the chain store and exit Russia market. Sephora has 88 stores and 1,200 employees in Russia.

It is reported that Sephora initially entered the Russian market through franchising but closed the business in 2008. Later that year, Sephora re-entered the Russian market by acquiring a 45% minority stake in the local chain "Ile de Beaute". Sephora then gradually acquired the remaining shares of the chain and gained full control in 2016, changing its name to Sephora. Sephora's sales in Russia account for about 3% of its total sales.