PARIS — Sephora said Friday it has raised its stake in Ile de Beauté by 20 percent, so it now holds 65 percent of the Russian selective perfumery chain’s share capital.
This story first appeared in the June 13, 2011 issue of WWD. Subscribe Today.
The LVMH Moët Hennessy Louis Vuitton-owned Sephora acquired in October 2008 a 45 percent stake in Ile de Beauté, which has 125 stores — mostly within large towns across the Russian Federation. Sephora said Ile de Beauté’s management team is to remain.