French group Louis Vuitton Moet Hennessy (LVMH) owner of some of the world’s top brands recently made another major deal. The group reportedly bought 50 percent of Russian beauty products distributor, Edinaya Evropa. The first stage of the deal has already been fulfilled, and it expected to be finalized by the end of the year.

As part of the new agreement, Edinaya Evropa will take over the Sephora fragrance license from L’Etoile in Russia. Sephora was bought by LVMH in 1997. Edinaya Evropa is the owner of the fragrance and cosmetics chain Ile de Beaute.

Edinaya Evropa is the third largest cosmetics distributor in Russia. With 103 stores and earnings $208 million in 2007, this is clearly a good addition to the portfolio of LMVH. The brand giant boasts among its properties, Givenchy, Moet & Chardon, Fendi and Christian Dior.