Most Popular in:
Latin Beat: Belcorp Enters Argentina
By: Cristina Kroll
Posted: February 20, 2007
page 3 of 5“The incorporation of these exclusive brands to our portfolio is a clear reflection of the growth that we have experienced since our arrival in the country,” affirmed Godoy.
Bright Star Group arrived in Argentina as the distributor of Calvin Klein fragrances, a brand that until that moment was under the umbrella of the Argentine distributor Diffupar. A year later, the enterprise added Animale Parfums, Everlast, Chloé, Lagerfeld and Cerruti brands.
In Latin America, Bright Star Group operates in Brazil, Paraguay and Argentina, and employs more than 450 people. It is one of the largest players in the beauty business and has 60% of the Brazilian market share. “The development of the company’s business in the region is based on the strong relations established with multinational companies,” remarked Godoy.
The French group Pierre Fabre acquired 70% of Brazilian company Darrow Laboratorios, owned by the Duarte family, which had registered sales of $10 million in 2005. Although the company did not post the total amount of this operation, it announced that it will invest $25 million in Brazil within four years. According to the company, the acquired laboratory will permit it to consolidate the position of Pierre Fabre in Brazil and the southern region of Latin America. It also will allow Pierre Fabre to develop its own dermocosmetic products in this country and at the same time take advantage of the local industrial platform to export a percentage of its production. A Pierre Fabre spokeperson said, “For many years, Pierre Fabre has been looking for a Brazilian player that could also be an engine in its development in South America.”
By acquiring Darrow, which has a plant in Rio de Janeiro, Pierre Fabre increases its position in Brazil, the seventh largest dermocosmetic market worldwide. Pierre Fabre, the maker of beauty brands such as Avène, Ducray, A-Derma, Galénic, Klorane and René Furterer, has subsidiaries in Mexico, Brazil and Argentina.