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LVMH Moët Hennessy Louis Vuitton reached an agreement to acquire a 70%, controlling stake in Sack’s, an online retailer of fragrances and beauty products and one of the leading companies in Brazil's specialty beauty distribution channel.
The acquisition of Sack’s will mark Sephora’s entry into the Brazilian market, one of the largest and fastest-growing beauty markets worldwide. It will enable Sephora, which is owned by LVMH, to develop its local platform, online and over time in stores. Sephora will bring its experience, acquired in international markets and online beauty retailing, to help develop Sack’s Perfumaria's business and increase its penetration among Brazilian beauty shoppers.
Founded in 2000, Sack’s carries more than 270 brands, and its client portfolio comprises more than 830,000 customers. Sack’s is one of the top-three most frequently accessed pure-play e-commerce sites in Brazil, with 4 million unique visitors each month.
“Being acquired by LVMH and Sephora is an exceptional confirmation of Sack’s great success and opportunities for significant, ongoing growth," said Carlos André Montenegro, co-founder and CEO, Sack’s Perfumaria. "We look forward to benefiting from Sephora’s global beauty industry knowledge to further enhance the experience we offer and continue to realize the enormous potential of our company as we open a new chapter of our story.”
“Carlos André and his partners have developed a great, profitable, business with true entrepreneurial spirit," said Antonio Belloni, group managing director, LVMH. "We are proud to join them and contribute to the next phase of Sack’s development. Brazil and, to a larger extent, South America are very promising countries for luxury goods. LVMH has been present there since 1973 and holds a leadership position in prestige beauty as well as in other segments of the luxury market. The opportunity is formidable.”