Latin Beat: Revlon Sells Its Non-core Brazilian Brands
By: Cristina Kroll
Posted: October 8, 2008, from the October 2008 issue of GCI Magazine.
In July, Revlon sold its Brazilian subsidiary, Ceil Comercio E Distribuidora Ltda., to Hypermarcas—a Brazilian diversified consumer products corporation. The $104 million cash sale included non-core Revlon Brazilian brands—notably Bozzano, a men’s hair care and shaving brand. Revlon brand color cosmetics will continue to be marketed in Brazil
through the company’s current third-party distributor, according to a press release. Revlon expects net proceeds, after payment of taxes and transaction costs, to be approximately $94 million, and it is currently evaluating the most appropriate use of the profits from the transaction.
Avon Most Recognized C&T Brand in Latin American
Avon is the most recognized cosmetics and toiletries brand in Latin America, according to a report from Latin Panel. The American direct-seller was recognized by 25% of the 9,000 consumers surveyed. Rexona (Unilever) was ranked second with 11%, while Dove (Unilever) achieved 8%. Lux (Unilever) and Palmolive (Colgate) share the fifth position with 4%, respectively. Furthermore, 90% of those surveyed felt that cosmetics and toiletries are one of the three most important personal expenses, along with food and cleaning products. Cities in the survey included Rio de Janeiro, São Paulo, Mexico DF, Buenos Aires, Bogota, Caracas, Santiago de Chile, Lima, Quito and La Paz.
Retailer Expands
Argentine retailer Universo Garden Angels will open new points of sale and beauty spas in Argentina, Uruguay, Mexico, Venezuela, Paraguay and Bolivia. The company will also open its first Middle East locations with two doors in Saudi Arabia.
Master points of sale recently opened in the Mexican city of Querétaro, and locations in Caracas, Venezuela, and Paraguay are scheduled to open in September 2009. In Argentina, where the company operates 12 points of sale and licenses 10 franchises, five additional locations are slated. “The idea of this model of spas is to create single urban spaces where people can find everything to relax,” Mónica Verdier, the company’s president, told GCI magazine. The company is currently established in Chile, Ecuador, Puerto Rico, Uruguay and Venezuela—where it markets more than 500 products.