CosmoBiz Magazine September 2014 - Page 85

an unquenchable thirst for all things beauty. In 2012 an average Brazilian consumer spent $240 on beauty products, while today she spends $260. This desire is also evidenced in the fact that one of the owners of Brazil’ second largest cosmetics company (after Natura Cosmetics), O Biticario, is now one of the world’s newest billionaires, Forbes reported earlier this year. The company saw a 20% increase in sales from 2012 to 2013 (Forbes). Between the years 2006 and 2011, cosmetics sales in Brazil increased by 142%. Sales are going to continue to grow too. Hana Ben-Shabat, of the global management consulting firm A.T. Kearney, says Brazil is basically an irresistible market for retail expansion, while Natalie Erlich of CNBC claims retail sales are “growing four times faster than the U.S.” country, bringing in thousands of tourists for the summer games. But there are also plenty of positives to be brought into the light when it comes to this beautiful country which has birthed some of the world’s most celebrated super models and boasts some of the world’s most beautiful beaches, not to mention it’s a beauty groupie’s mecca. It’s no wonder the country’s beauty industry is booming—beauty seems to come naturally for Brazil. The economy is going to get a bump from the Olympic Games, and the country has already begun an investment of $3 billion in its airports in anticipation of the influx of tourists and athletes. Brands like L’Occitane and OPI launched special, Brazilian-themed products ahead of the World Cup (see OPI’s Brazil Collection and L’Occitane’s Jenipapo Shower Oil). Imogen Matthews of the Global Cosmetics Industry reports that over the past couple of decades the growth in Brazil’s beauty industry has exceeded its general industry and GDP growth by a large margin. Its market is valued at $42 billion according to Euromonitor (U.S., $69; Japan, $47). In 2012, exports contributed to industry growth, totaling $145 million just for hair care and oral hygiene (Matthews). Hair care and fragrances alone, make up almost 40% percent of beauty/personal care sales (Euromonitor). Like Venezuela, Brazilian women have what seems like So what’s causing the increased desire for more beaut