France-based luxury and specialty retail group LVMH is to acquire a 70% stake in Sack’s, a leading online retailer of fragrances, cosmetics and toiletries in Brazil.

The operation will form part of the group’s beauty store operation, Sephora, and the acquisition will mark Sephora’s entry into the Brazilian market.

Sephora is expected to bring its experience in international markets and online beauty retailing to help develop Sack’s business.

Sack’s co-founder and chief executive Carlos André Montenegro said: “Being acquired by LVMH and Sephora is an exceptional confirmation of Sack’s great success and opportunities for significant, ongoing growth.”