Sacks plans aggressive expansion with Sephora in Brazil
Folha de S. Paulo
The French group of luxury goods LVMH, owner of Louis Vuitton, acquired 70% of the Brazilian cosmetics site Sack's, which now plans an aggressive expansion in Brazil with the start of the operations in shopping malls and possible national production of renowned brands of Sephora, which belongs to the French group. The value of the transaction is estimated between R$ 200 million (US$ 111 million) and R$ 350 million (US$ 194 million).
The Executive President of Sack's and Sephora in Brazil, Carlos André Montenegro, denied the figures. According to him, the company expects to have the first Sephora stores in Brazil - that in the world has nearly 500 points of sale - in 18 months. "We are already negotiating part of the properties with several shopping malls in the country, we want to make an aggressive starring with the physical stores, extending the installment payment from the site to them", said Montenegro without providing the financial details of the operation.
In spite of that, he affirmed the resources of the operation will go the owners of Sack's, who, besides Montenegro, include the entrepreneur Marcelo Franco and the investment holding Albatroz Participações. The shareholders hold the other 30% of the company. With the agreement, the LVMH group, which in Brazil already represents cosmetics, beverages and clothes, begins operating Sephora, for the first time in Latin America, as well.