The move comes as Brazil’s cosmetics market is consolidating. Rival Natura SA agreed in May 2019 to merge with Avon Products to create the world’s fourth-largest beauty company.
Founded in 2008, Beleza na Web has over 360 national and international brands and sells 17,000 products on its platform. In 2018, its gross revenue hit around USD 70.43 million.
Grupo Boticário, which owns The Beauty Box chain of 40 brick-and-mortar stores across Brazil, had approximately USD 3.4 billion in revenue in 2018, up 11% from 2017.
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