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Sales of perfumes and cosmetics in Brazil expected to grow by 11.8% in 2014

The Brazilian Association of the Cosmetic, Perfumery and Toiletry Industry (ABIHPEC)expects the sector’s net sales (ex-factory, taxes not included) to reach BRL 42.6 billion (USD 19,14) in 2014, thus growing by 11.8% compared to BRL 38.1 billion last year.

This is the result of high investment in innovation and new products, promotion and even anticipated sales strategies before the world cup period, which did not affect the profitability of companies while guaranteeing the availability and price of the products," said João Carlos Basilio, ABIHPEC President.

This year, the industry’s investments should amount to BRL 14.1 billion (USD 6,3 billion), 5.2% higher than in 2013, where the whole sector invested about BRL 13.4 billion. This year’s investment can be split as such: brands (BRL 9 billion), assets (BRL 3.5 billion) and Research & Development (BRL 1.6 billion).

"To date, we are the industrial that invests the most in branding, second only to the retail industry. We are getting closer to our customers," said the president of ABIHPEC.

According to João Carlos Basilio, the cosmetics industry is growing three to four times faster than the GDP. ABIHPEC forecasts the sector’s contribution to the Brazilian economy to grow from 1.8% of GDP to 2% by 2016.

© 2014 - Brazil Beauty News - www.brazilbeautynews.com

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