SEPHORA – L’ETOILE
July 1st, 2003
BY MARK ROWETHE PARIS-BASED perfume business Sephora is in talks to buy L'Etoile, Russia's largest cosmetics chain. L'Etoile, which is based in Moscow, has 101 stores in the city and also owns outlets in St Petersburg. The company's sales amounted to US$90 million last year. Sephora the retail division of LVMH Moet Hennessy Louis Vuitton SA, the world's largest luxury-goods company, is believed to be intending to use the takeover to create a new operations base in Russia and Ukraine for LVMH's perfumes and cosmetics division. LVMH only opened its first store in ...
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