market, accounting for 49% of group sales, due in part to the success of the Collistar brand, which the company acquired in 1992.
France is next at 16%, followed by Rest of Europe (8%), Benelux
and Rest of World (6%), and Spain, Greece and Germany, 5%
SALES: $1.9 BILLION
Key Personnel: Eduardo Belmont, founder and chief executive
officer; Pedro Malo, chief financial officer.
Major Products: Beauty Red by Esika and Oh Red by Cyzone
fragrances; Lederm by L’bel skin care.
New Products: L’Bel Lederm skin care.
Comments: It didn’t take long for Belcorp, Peru’s biggest beauty
company, to have another hit on its hands. Beauty Red, a fragrance that debuted in 2013, won the package design award at
HBA Global Expo. Meanwhile, Oh Red by Cyzone, also launched
last year, won the Premio Actualidade Cosmetica Award for being
considered the best fragrance in Latin America. Oh Red’s scent
was created by IFF’s Marion Costero and Napoleão Bastos.
Belcorp calls new Lederm by L’bel, a revolutionary anti-aging
treatment based on cellular homeostasis, capable of achieving
balance in seven days.
In other news, Belcorp was ranked No. 5 by Great Place to
Work Latam 2013 and Eduardo Belmont, the company’s founder
and CEO, became the first non-Brazilian to enter the Actualidade
Cosmética Hall of Fame (Brazil).
SALES: $1.9 BILLION
Key Personnel: Magnus Brännström, chief executive officer and
president; Jesper Martinsson, executive vice president, global
sales and markets, and deputy chief executive officer; Gabriel
Bennet, chief financial officer.
Major Products: Skin care, color cosmetics, fragrance, personal
and hair care, accessories and wellness products.
New Products: Ecollagen skin care (relaunch); Lash Panorama
mascara; My Red and Sir Avebury fragrances.
Comments: When your biggest markets are Russia and the
Ukraine, you’re in for some rough sledding these days. That’s the
case at Oriflame, which reported first quarter 2014 sales fell 14%
amid the geopolitical turmoil.
“With sharply devaluating currencies and challenges of ex-
ceptional nature in our two largest markets Russia and Ukraine,
there is no doubt the company is facing very tough conditions,”
said Brännström.“We need to return the momentum and improve
profitability in CIS and Europe while we continue to see a very
positive development in Latin America, Turkey, Africa and Asia.”
That turmoil is one reason why the company redesigned its
operations into four regions for 2014: Latin America, Europe (in-
cluding the Baltic countries), CIS (excluding the Baltic countries)
and Turkey, Africa and Asia. According to Oriflame, the reorg bet-
ter reflects common challenges, opportunities and developments.
In 2013, Turkey, Africa and Asia accounted for 29% of sales.
Sales slipped 6% last year, led by a 12% decline in the CIS and
Baltic region. Sales in the EMEA fell 5%, as strength in Africa and
stabilization in Southern Europe weren’t enough to overcome
weakness in Central Europe. Sales in Latin America, however,
rose 15%, as Oriflame reported gains in all five markets. Sales
in Asia, too, improved, rising more than 10% due to strong sales
growth in Indonesia, India and Pakistan.
By category, color cosmetics accounted for 24% of sales, followed by skin care, 21%; personal and hair care, 20%; fragrances,
20%; accessories 10% and wellness, 5%.
In November, one of the company’s main warehouses for
its Ecollagen skin care