Ile de Beauté and Sephora Enter Joint Venture

Skadden represented the shareholders of OJSC “United Europe – securities,” the owner of Ile de Beauté, a leading distributor of perfume and cosmetics in Russia, in the establishment of a joint venture with France-based retail beauty chain Sephora S.A. Sephora is a subsidiary of luxury goods company LVMH Moët Hennessy Louis Vuitton. Under the deal, Sephora acquired a 45 percent stake in the Ile de Beauté chain and will have the option to become a majority shareholder over time.