LVMH Moet Hennessey – Louis Vuitton, the leading luxury product group, has reached an agreement to acquire a 70 percent controlling stake in Sack’s, the leading online retailer of fragrances, cosmetics and toiletries and one of the leading companies in the whole specialty beauty distribution sector in Brazil. The acquisition of Sack’s will mark Sephora’s entry into the Brazilian perfumes and cosmetics market. It will enable Sephora, which is owned by LVMH, to develop its local online and in-store platform.
Sephora, which is the leading online beauty retailer in USA, will bring its experience to help develop Sack’s business and increase its penetration among Brazilian beauty shoppers. “Being acquired by LVMH and Sephora is an exceptional confirmation of Sack’s great success and opportunities for significant, ongoing growth. We look forward to benefiting from Sephora’s global beauty industry knowledge to further enhance the experience we offer and continue to realize the enormous potential of our company as we open a new chapter of our story”, says Carlos Andre Montenegro, Co-Founder and Chief Executive Officer, Sack’s.
