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LVMH to expand Sephora beauty branch into Brazil

LVMH to expand Sephora beauty branch into Brazil
AP
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First Published: Fri, Jul 02 2010. 04 17 PM IST
Updated: Fri, Jul 02 2010. 04 17 PM IST
Paris: French luxury goods giant LVMH Moet Hennessy Louis Vuitton says it has acquired a controlling stake in a Brazilian online beauty retailer and that it will expand its Sephora subsidiary into Brazil.
LVMH says it is buying a 70% stake in Sack’s, Brazil’s biggest online seller of perfume, makeup and beauty products.
The Paris-based luxury giant said in a statement Friday that its Sephora cosmetics chain can now “develop its local platform, online and over time in stores.”
Meanwhile, Sack’s current management team will “remain in place, and Sack’s will continue to be based in Rio de Janeiro.”
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First Published: Fri, Jul 02 2010. 04 17 PM IST
More Topics: France | Brazil | LVMH | Sephora | Beauty |