Investors take on water management of Smell

The network of shops of perfumery Água de Cheiro closed an association with the Brazil Beauté, company founded by a group of American and Brazilian investors with experience in luxury brands. The new members assume the management and should hold a majority stake in the retailer, as it was found the value.
Founded in 1976 in Belo Horizonte, the Água de Cheiro was acquired by Globalbras, the businessman Henrique Alves Pinto, former owner of construtora Tenda, just over three years. After going through a period of strong expansion, the network faced operational difficulties, including the replacement of stocks, and looking for a strategic partner, according to market information.
The Água de Cheiro recorded revenues of approximately r $ 375 million and a network of 862 stores in 2011, with 80 of its own. The company's franchisees have already been notified of the completion of the deal. Sought, the company confirmed the entry of new members, but said he would not comment on the matter at the moment.
Based in New York, the Brazil Beauté was created to identify investment opportunities in the area of consumption in the country. The company is led by Paul Block, former Chairman of Revlon. Connected also to the financial area, Block is President of Proteus Capital Associates, an investment firm with a focus on projects in China.
Also part of the company that joined the Água de Cheiro Executive Renaud Dutreil, former President of the American unit of LVMH, for brands like Louis Vuitton and Sephora, and Elizabeth Schmalz, Revlon and Victoria Secret ex-executiva, singled out as a specialist in fragrances. They were joined in the Brazilian entrepreneur Joe Beauté Brazil Lake, which was responsible for sales and marketing for Ellus.
With the new Member, the Água de Cheiro hopes to bring other brands and products to the stores, but without losing the focus on young consumers and of classes C and D. The company brings together approximately 600 products today, and invested in collections associated with artists such as actress Deborah Secco, the presenter Sabrina Sato and the singer Luan Santana. In addition to the product line, the network plans to offer a new store format to franchisees.