LVMH deepens Russia ties with Ile de Beauté buy-out

Published: 21-Mar-2017
Finance

LVMH has moved to consolidate its position on the Russian market while prices are low, as Eugene Vorotnikov writes

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French luxury group 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 16 January 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. LVMH has until now owned a 65% stake in the company.

While the price paid by LVMH has not been formally disclosed, according to some sources close to the partners quoted in Russian media reports, it is in

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