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Grupo Boticário expected to close out the year with 7% growth and R$ 13 billion in revenue

The company opened sixty-two new stores in 2018, with a presence in 15 different countries.

Grupo Boticário is expected to close out 2018 having fulfilled the estimate previously announced for the year. The company, which controls a range of brands including O Boticário, Eudora, Quem disse, berenice?, The Beauty Box, Multi B and Vult (which was acquired in March), is on track to repeat last year’s performance and post a 7% annual growth, reaching R$ 13.1 billion in revenue.

CEO Artur Grynbaum

CEO Artur Grynbaum

During an event held in São Paulo in early December, CEO Artur Grynbaum celebrated the company’s 2018 results. With 62 new stores opened (well within the company target of opening 60 to 70 new stores), Grupo Boticário’s international footprint has also grown, and has now reached 15 countries. Among them is the United Arab Emirates, with the first O Boticário store having opened in Dubai in September.

O Boticário, the group’s most famous brand had the most new store openings in 2018, with 38 in total, according to Grynbaum. He also highlighted the strong performance of Eudora in 2018. A direct sales brand created in 2011 to compete with Natura, Eudora is also now active in the retail segment, having opened five new stores in the past year alone.

Grynbaum also mentioned Quem disse, berenice?’s expansion in Portugal. The make-up chain already boasts 250 stores in Brazil and will close out the year with eight locations in the European country.

Event held in São Paulo

Event held in São Paulo

Additionally, Grynbaum emphasized Grupo Boticário’s policy of continuously investing into research and technology. The company spent R$ 300 million in research in 2018 alone, with plans to invest the same amount next year as well.

According to official company information, 2.5% of its annual revenue is allocated to innovation and the development of new cosmetics, such as the first fragrance collection in the world to have been produced with the aid of artificial intelligence. The new creation was announced by the company in October and is the result of a partnership with Symrise and IBM Research. This revolutionary line’s name, packaging and characteristics will be revealed in 2019.

Renata Martins

© 2018 - Brazil Beauty News - www.brazilbeautynews.com

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