France's Sephora to Open Outlets in Iran: Report
TEHRAN (Tasnim) – A French cosmetics retailer plans to open several shops in Iran following the recent nuclear deal between the Islamic Republic and six world powers and the ensuing lifting of anti-Tehran sanctions, a report said.
Sephora, running around 2,000 outlets worldwide, is keen to build its presence in Iran next year, Reuters reported on Friday.
"Sephora is currently finalizing talks with its partner in Iran," one of the sources close to the matter said.
"Talks are already quite advanced with their distributors," another source said, declining to be named.
One source said Sephora was hoping to open up to seven boutiques.
Tehran and the Group 5+1 (also known as P5+1 or E3+3) on July 14 reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear program.
The nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), would terminate all nuclear-related sanctions imposed on Iran after coming into force.
October 18, was the so-called “adoption day” for the deal, which came 90 days after the two sides concluded their intensive negotiations in the Austrian capital of Vienna.
The bill allows the Iranian administration to voluntarily implement its July 14 nuclear agreement with the world powers under certain conditions.
