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NEW YORK -- Sephora is retreating from Japan to focus its energy on Europe and the U.S.
LVMH Moet Hennessy Louis Vuitton, owner of the 400-plus-door perfumery chain, said Wednesday that it will shut the seven Sephora doors in Japan by yearend. The announcement intensifies the buzz surrounding Sephora, which is rumored to be on the block or even partially sold already. The closures in Japan also come following losses estimated upward of $50 million this year.
Industry sources speculate Sephora's flagging Japanese and U.S. businesses are sticking points for Germany's perfumery giant Douglas, which is purportedly interested only in acquiring Sephora's European stores. Some sources...