Wednesday, October 08, 2014

Market grows less, says L ' Oréal

The beauty market should grow at slower pace this year in Brazil, influenced by the economic downturn in the country. The evaluation is the Chairman of L ' Oréal, Didier Tisserand. According to him, the expansion of the sector, which in recent years was more than 10 percent, should stay under double digits in 2014.
Despite this slowdown, the Executive estimates that the beauty market is much more dynamic than the Brazilian economy and, without citing projections for l ' Oréal, he considered "temporary" a worsening for the sector.
The Associação Brasileira da Indústria de personal hygiene, perfumery and cosmetics (Abihpec), design 11.8% sales advance for 2014, although it also has recognized that it's harder to grow double digits before the adverse scenario. According to Abihpec, the industry should earn R $ 42.6 billion by December, before taxes.
Reunited this week with the international press in Rio, the President of L ' Oréal in the country avoided predictions for 2015. "We have many problems in assessing 2015. We can say it will be year of transition [in Brazil], "said Tisserand. But he added that the company's vision for the country's long-term. Therefore decisions are not influenced by elections or by economic slowdown.
L'oreal's sales increased 13.3 percent in 2013 in the country, for $ 2.2 billion. The company's market share was 7.1%-which puts in four place in the sector.
L ' Oréal has been investing heavily in Brazil. Last month, announced agreement to buy Brazilian Niely, which dominates the market for hair coloring for classes C and D in the country. "I can't comment much. Cade is reviewing. Already we present the documents. It's a big procedure, "he said. With the acquisition, the idea is to bring innovations to the Niely. "Let's stay with the brand and with factory in Nova Iguaçu, which is art."
L ' Oréal is investing R $ 240 million this year on modernization of its two factories in the country and in your research centre.
Valor Economico
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