Sephora SA, a subsidiary of French LVMH group, has purchased a45% stake in Ile de Beauté one of the leading retailer of perfumes and cosmetics in Russia.
Third by the size, after L’Etoile and Arbat Prestige, Ile de Beauté is considered as the most “high-end” of the sector. Sales of the retailer increased by 71% of sales last year.
This agreement could soon allow Sephora to get a majority stake of Ile de Beauté, a strategic position in a market with very high potential. Russia is the third European market for cosmetics. Since the beginning of the year, sales of perfumes and cosmetics increased by more than 17%.