Global beauty giants stumble as Chinese brands surge

Global beauty giants face mounting challenges in adapting to China’s evolving market. What can they learn from their local counterparts? LVMH subsidiary Sephora is laying off hundreds of employees in China as it struggles to turnaround its loss-making operations. Approximately 10% of Sephora China’s workforce of over 4,000 employees, including office and store staff, are impacted, with some senior executives also departing.