Monday, March 21, 2011

L’Oreal Latin American Head Aims to Double Brazil Sales by 2015

By Andrew Roberts, Bloomberg.

March 18 (Bloomberg) -- L’Oreal SA, the world’s largest cosmetics maker, aims to double sales in Brazil by 2015 and add 50 million new customers there in the next decade as Latin America’s largest economy expands.

“We are still very much in opportunity territory,” said Alexandre Popoff, head of Paris-based L’Oreal’s business in Latin America, Africa and the Middle East, in an interview. “The big part of the growth will be coming from mass-market products.”

The company may also buy a Brazilian brand to expand in the country, where consumers spend more per capita on cosmetics than in any other so-called BRIC nation. L’Oreal plans to use its 1.5 billion-euro ($2.1 billion) cash pile to make acquisitions, Chief Executive Officer Jean-Paul Agon said last month.

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