Ile de Beaute stores will become French

The French group LVMH intends to buy 45 percent of the shares of the Russian chain of perfume stores Ile de Beaute to expand the presence in Russia, Reuters reports. Later LVMH, a manufacturer of luxury items under the brands Louis Vuitton, Kenzo, Givenchy, Hennessy, Dior and Guerlain, will be able to increase the stock package in the Russian company to the control.

LVMH will make a deal through its Sephora retail perfume network and will not shift the management of Ile de Beaut. LVMH does not specify the financial details of the transaction and the exact time framework into which it will be completed.

Earlier, Russian media reported with reference to their sources that LVMH agreed on the purchase of United Europe - SB, which owns the Ile de Beauty network. The transaction, which analysts estimated at 167-223 million dollars, should be closed before the end of this year.