LVMH's Sephora Cuts Around 10% of China Staff as Woes Deepen.

Sephora, a cosmetics retailer owned by LVMH, is cutting around 10% of its staff in China in an effort to turn around its loss-making operation in the country. The company has fired both office and store staff and some senior executives have also left. Sephora has been struggling to expand in China, a market that is considered crucial for its global sales target. The brand has faced challenges in China due to competition from cheaper local brands and the dominance of online shopping. [Extracted from the article]