Turkish beauty enterprise will continue to be managed by Senbay family
The French cosmetics group Yves Rocher has acquired a majority stake of 51% in the Turkish beauty products enterprise Flormar, according to Turkish media sources. The sources also report that the price was was almost $150m. It is understood that the company will continue to be managed independently by the Senbay family.
Flormar was created by the family in 1972 and has exports to over 60 countries. Its current sales are around $100m annually and it has a network of 98 shops in Turkey and about 200 abroad.