According to the Staraya Krepost marketing agency, the volume of the perfume and cosmetics retail market in 2007 was $8.6 bln and in comparison with 2006, the market grew by 10.4%. Dedicated chain stores sell around 30% of perfume and cosmetics goods. At the end of 2007, the leader in terms of number of stores was L’Etoile (450 stores).
Market players comment that the company has sufficient funds for development. At the end of the previous year, the Finstar investment holding which manages Oleg Boyko’s assets obtained Rive Gauche’s shares. At the time a source close to Rive Gauche confirmed that 75% of the shares had been acquired. Boyko promised to invest 150 mln euros in the company and also to engage personnel which used to develop the Vulkan chain of gambling clubs. Karaban clarified that the chain will use the former premises of the gambling clubs.