France’s Sephora acquires 19 Tekin Acar stores
French cosmetics brand Sephora is buying 19 stores of Turkish retailer Tekin Acar. The sale will be completed following the approval of the Competition Board. Chairman Tekin Acar had announced at the beginning of the year that his company was negatively affected by the increase in the foreign-exchange rate and additional taxes and that some stores would close. Tekin Acar has 79 stores selling cosmetics throughout Turkey.