Sephora acquires the Turkish company Tekin Acar Cosmetics

The French multinational luxury goods conglomerate Sephora is about to acquire the Turkish major cosmetics retailer Tekin Acar Cosmetics. The deal is currently subject to approval by the Turkish Competition Authority, but upon approval 19 stores, including the flagship ones in Istanbul and Ankara, will be acquired by the French cosmetics compay.

Owned by French multinational luxury goods conglomerate LVMH headquartered in Paris, France, Sephora is a French chain of cosmetics stores that was first founded in 1969. The retailer offers a range of beauty products that include makeup, skincare, fragrance, nail polish, and haircare from nearly 300 brands along with its own private label. It has also been present and operational in Turkey for the last seven years.