LVMH-owned fragrance retail chain Sephora has announced the signing of a partnership with Maxim Klimov, owner of the L'Etoile retail chain, to develop Sephora across Russia.
The opening of Sephora stores will complement the existing L'Etoile network of 104 stores, the company said in a statement this week.
The move could well be seen as a sign of confirmation of Sephora's intention to expand into markets with strong growth potential, following its successes in countries such as Poland, the Czech Republic and Romania.
In July the company announced its association with Poland's Empik perfume retail chain in order to further establish its leadership position in the country.