Top Companies Report

17. O Boticário

August 3, 2015

Brazil
www.boticario.com.br
Sales: $1.7 billion

Key Personnel: Miguel Krigsner, founder and chairman; Artur Grynbaum, chief executive officer; Fernando Modé, vice president, corporative; Lia Azevedo, vice president, organizational and human development; Isabella Wanderley, vice president, new channels development; André Farber, vice president, business franchises.

Major Products: Fragrances, skin care and color cosmetics. Brands include O Boticário, Eudora, Quem Dissem, Berenice? and The Beauty Box.

New Products: O Boticário—Lady Lily, Floratta Forever Love and Quasar Forever Energy fragrances; Tropical Colors Make B. and Barroco Tropical Make B. makeup collections. Eudora—Siage hair care; Maximize Your Lashes Turbo 5.0 Soul line; Soul Kiss Me Autentika lipsticks and eye pencils; Palette eye shadow x 4 Soul Color to Go; Lip Deluxe lip colors; Belle Cetim color cosmetics and skin care products; Soul Radar Rio lotions and fragrances; Neo Etage daily treatment line; Chic, A.R.T Revolution, Carbon Turbo, Trip Itacaré, Eudora Deluxe e Jardim Fascinante fragrances. The Beauty Box— Suspiro de Pera e Magnólia bath and body care. Quem Disse, Berenice?—Me Solta collection.

Comments: Retail sales rose 16% in local currency last year to top $3.5 billion. O Boticário is the No. 2 player in the Brazil beauty market (behind Natura) and the No. 2 franchise in Brazil as well (behind Correios, a state-owned company that runs the postal service). It got there by being the No. 1 company in fragrance and No. 2 in makeup. But even top-tier Brazilian companies noticed the Brazilian economy is slowing.

No surprise then, that O Boticário is seeking greener pastures. Last year, the company entered Colombia, the third largest fragrance market in Latin America, and one that tripled in size during the past 12 years, according to industry experts. The goal, said O Boticário executives, is to build a business with 100 stores and $80 million in sales, by the end of 2016.

For the third year in a row, Boticário Group CEO Artur Grynbaum was named one of Brazil’s best executives by the top headhunters in the country. He was recognized for doubling the size of the company in the past four years.

Last year, The Boticário Group concluded a major investment cycle in operational infrastructure of approximately R$1 billion, which started in 2010 with the distribution center opening in Registro (São Paulo). In 2013, the company expanded the São José dos Pinhais operational unit, built a makeup factory and research and development center. Last year, The Boticário Group inaugurated a second distribution center and a new factory, both in the state of Bahia, completing this robust expansion plan.
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