LVMH MOVES TO CONSOLIDATE POSITION ON RUSSIAN MARKET WHILE PRICES ARE LOW
January 1st, 2017
FRENCH luxury group conglomerate LVMH (Moët Hennessy Louis Vuitton) has consolidated its position in Russia by acquiring a 100% stake in Ile de Beauté, one of Russia’s leading cosmetics chains.
The deal was signed on January 16 with Igor Denisov, a Russian businessman and the founder of Ile de Beauté, which, to date, has operated the retail business together with LVMH, in the form of a joint venture. The French firm has until now owned a 65% stake in the company.
While the price paid by LVMH has not been formally disclosed, however, according to some ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.