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Latin Beat: Latin American Market is Showing Strength
By: Cristina Kroll
Posted: June 9, 2008, from the June 2008 issue of GCI Magazine.
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Colombian Diego Sáenz assumed his role as the new director of L´Oréal Argentina’s active cosmetics division in April, replacing Victoria del Castillo. The executive has worked in Spain as a director of development and distribution for the same division, and, prior to that, was the commercial director at Vichy Laboratories and Inneov Laboratories.
Sáenz arrives in Argentina at a time in which, he told GCI magazine, the dermocosmetic sector continues to have strong growth potential. In 2007, the number of dermocosmetic beauty items grew 33% in Argentina. In addition, said Sáenz, dermocosmetics represent 4% of the beauty market in Argentina and 10% in Spain.
Smashbox Cosmetics Expands
As part of the company’s expansion plans, Smashbox Cosmetics launched in Argentina in December, and is being distributed by Argentine company Diffupar.
“Argentina is a very interesting market for the brand right now because of the growing cosmetic industry in this country,” said Susana Milano, who handles public relations for Diffupar.