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LVMH's Sephora to enter Brazil

This article was originally published in The Rose Sheet

Executive Summary

According to July 2 release, LVMH has reached an agreement to acquire a 70% stake in Sack's - one of the leading specialty beauty distributors in Brazil and an online vender of fragrances, cosmetics and toiletries - which will allow Paris-based firm to bring its Sephora retail business to Brazil. Sephora will develop a local platform online and in stores in Brazil, one of the fastest-growing global beauty markets, and help develop Sack's and increase its market share, firm says. Sack's CEO and founder Carlos Andre Montenegro and his partners will continue to hold a 30% stake in Sack's
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