LVMH had previously had a joint venture with Greek-held Marinopoulos, which had also invested in coffee shops (Starbucks) and fashion (Marks and Spencer and Gap) in Romania.
“LVMH became the sole shareholder of Sephora in all the countries in the region where it had previously had a joint venture with Marinopoulos, that is Serbia, Bulgaria, Romania and Greece,” says Roxana Rasu, 35, general manager of Sephora in Romania, Serbia and Bulgaria.
Sephora has 26 stores in Romania, which generated about EUR35 million in 2012, up 7.5% on the previous year according to the company’s report. It plans to open three stores and boost revenue in 2013.
“We want to preserve the growth rate of 2012,” says Roxana Rasu.
(English version by Loredana Fratila-Cristescu)