Tag | sacks
LVMH Buys E-commerce Site Sack’s To Expand Sephora Into Brazil
Luxury products giant LVMH (Moët Hennessy Louis Vuitton) has reached an agreement to acquire a 70%, controlling stake in Sack’s , a Brazilian online retailer of fragrances, cosmetics and toiletries. The terms of the acquisition were not disclosed. With the acquisition, LVMH aims to expand its Sephora subsidiary into the Brazilian perfumes and cosmetics market, reportedly one of the largest and fastest-growing beauty markets worldwide. Initially online only, but also in physical stores over time, according to the press release . Founded in 2000, Sack’s carries over 270 brands, which it is able to sell to a client base that spans more than 830,000 customers. Sack’s is one of the top-three most frequently accessed pure-play e-commerce sites in Brazil, with 4 million unique visitors each month. Carlos André Montenegro, co-founder and CEO of Sack’s, and his partners, Albatroz Participações and Marcelo Franco, will continue to hold a 30% stake in Sack’s. The current management team, led by Mr. Montenegro, will remain in place and Sack’s will continue to be based in Rio de Janeiro. CrunchBase Information Sephora USA Information provided by CrunchBase
Continued here:
LVMH Buys E-commerce Site Sack’s To Expand Sephora Into Brazil
At The World Series Of Poker Two Founders Are Betting The Company — Literally
You’ve heard the term “betting the company,” but have you ever known anyone who has actually done that? I mean literally. As in, they’re playing poker with shares of the company on the line. Because that’s exactly what Yammer founder David Sacks and Mahalo founder Jason Calacanis are doing at The World Series of Poker in Las Vegas. When Calacanis first tweeted about it, I thought it was a joke. He wrote, “ Got a sick @WSOP Main Event Prop bet with @DavidSacks: 10,000 shares of Mahalo vs. 10,000 shares of @Yammer–whoever lasts longer #poker “. But I emailed Sacks to confirm, and sure enough, the bet is on. “Of course. Sucker born every minute ,” Sacks wrote to us. He continued, “ To be clear, these are personally-owned shares we’re betting .” Of course, you have to assume they’re not betting the entire company. I asked Sacks exactly what percentage of Yammer 10,000 shares constitues. Not surprisingly, he declined to answer that. But you’d have to think it’s a relatively small share or the Boards of the two companies might have something to say about the deal. Can you imagine if Calacanis took a controlling stake of Yammer because he lasted longer in the World Series of Poker? That’d likely be worth a lot more than the grand prize if he won the entire tournament. Obviously, this isn’t an official bet for WSOP, it’s a side bet the two men are making. This is a much more interesting way to trade shares than SecondMarket . Some may recall that Yammer had a bad spell of downtime while Sacks was playing in the tournament last year. Calacanis has played before as well. Yes, it’s a little ridiculous . CrunchBase Information Yammer Mahalo Information provided by CrunchBase
Read the original post:
At The World Series Of Poker Two Founders Are Betting The Company — Literally
