Quem Disse, Berenice?’s growth has been relentless. Having debuted in the second half of 2012, the youngest business of the holding mostly known for its flagship brand O Boticário, as well as Eudora and The Beauty Box, now has 200 stores spread across the nation, making it the largest makeup franchise network in Brazil.
With a portfolio of over 500 color cosmetic products, plus perfumes and accessories, the brand has emerged with a provocative, liberating approach to makeup designed to suit women of all ages and styles. In the stores, customers are encouraged to experiment with different products, which are set up in counters equipped with mirrors, brushes and sponges, until they find the perfect color combination to match their skin and lifestyle. The brand’s current product offer includes around 100 lipstick colors, 70 eye shadows and 18 different shades of foundation and concealer, all at highly competitive pricing – R$ 13.90 for a nail polish, R$ 27.90 for a lip gloss and R$ 35.90 for a mascara.
Having established itself in the domestic market, Quem Disse Berenice? took an important step late last year by setting forth its international expansion. “We realized there was a demand from Brazilians who knew the brand, but lived overseas,” says Gustavo Fruges, branding and marketing director for the company. Portugal was picked as a test market and saw the opening of three stores between November and December 2016 – two in Lisbon and one in Porto.
“We believe that starting our overseas expansion strategy through Portugal, an European country that speaks our language, will make it easier to convey the brand’s message,” says Fruges. The fertile Portuguese makeup market was also a key factor. According to data from the company, the penetration of the category in Portugal is 81%, compared to less than 50% in Brazil. The solid infrastructure that had been created by the Boticário Group since it set foot in the country in 1986 also proved to be a huge advantage in implementing the business and providing local support.
The stores in Portugal have the same layout and service standards as those in Brazil. Portuguese customers will have access to over 400 Quem disse, Berenice? products, including new launches such as the liquid matte lipstick and an eyebrow care range. However, regulatory differences for cosmetics manufacturing will prevent some products from entering the European market due to ingredients contained in their formulation.
Without disclosing the estimated number of new stores or making projections for the international strategy in 2017, Fruges confirms “the company plans to expand its presence in Portugal.” Seven other countries where Boticário Group currently operates, including Angola and Mozambique, are quoted as potential markets for Quem Disse, Berenice? in the coming years. “We always have an eye out for opportunities, but there are no concrete plans as yet,” he says.
The brand’s internationalization efforts do not mean domestic expansion should halt. “We are constantly looking into growth opportunities in Brazil,” says Fruges. “Freedom is the brand’s core value and it’s a global aspiration. That’s what drives the brand’s growth in Brazil and elsewhere,” he states.
Boticário Group’s 2016 revenue should be announced by late March. Single-digit earnings growth – above the industry’s overall growth – is expected. Back in 2015, the holding announced a R$ 10.1 billion revenue, accounting for an 8.8% YOY growth rate.