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Cosmetics retailer Sephora postpones opening of Iran shops end-2017 - sources

Published 03/10/2016, 17:44
Updated 03/10/2016, 17:50
© Reuters. File photo of general view showing the facade of the Sephora store on the Champs Elysees Avenue in Paris
LVMH
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PARIS (Reuters) - French cosmetics retailer Sephora (PA:LVMH) will postpone the opening of several retail outlets in Iran to end-2017 from 2016 as initially planned because the right financial and political conditions are not yet in place, sources said on Monday.

"Nothing will happen until the second half of 2017 at the earliest because conditions are not yet in place for things to happen," one of the sources close to the matter told Reuters.

© Reuters. File photo of general view showing the facade of the Sephora store on the Champs Elysees Avenue in Paris

Sephora, part of luxury industry leader LVMH with around 2,000 outlets worldwide, is keen to build its presence in Iran where there is huge demand for cosmetics and especially make-up.

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