RUSSIA: Sephora SA has acquired a 45% stake in the Russian perfumery chain Ile de Beauté, a move that fits well with the retailer’s strategy to expand into markets with strong potential. The accord also gives Sephora the option to become a majority shareholder over time.
Ile de Beauté is one of the leading distributors of perfume and cosmetics in Russia, having a roster of nearly 100 stores spread over the entire Russian Federation. An existing franchise between Sephora and Alkor, which operates Sephora stores in Russia, will remain until its contract ends at the close of 2010. More info: www.lvmh.fr