The deal was valued at several million euro
French cosmetics brand Yves Rocher has acquires some 40 stores in Romania from its local franchisee in a transaction valued at several million euro, business daily Ziarul Financiar reported on Tuesday.
The French company closed last month the deal to buy Cosmetiques de France, the operator of the store chain, from local businessman Alexandru Rabanca, who hold the Yves Rocher brand in Romania since 1999 and has developed its retail network.
The French company has also been directly present on the Romanian market with its subsidiary for mail and Internet sales Yves Rocher Romania, since 2008.
Cosmetiques de France reported 23.5 million lei (EUR 5.2 million) sales in 2015, when the sales of Yves Rocher Romania stood at RON58 million.
Sephora, Zara and Mango are some other global brands that entered Romania under the same business model: firstly through local franchisees and later on by buying out them.
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