MakeUp events expands into the South American market
The first edition of the event is scheduled to take place at the Renaissance Hotel, in the heart of Sao Paulo, from 3 – 4th December, 2014, bringing the total number of MakeUp events around the world to four.
The event started off in Paris in 2009, and has since been expanded to two other locations in New York, USA, and Seoul, South Korea, alongside the newly announced Sao Paulo event.
Color cosmetics sees big growth in Brazil
The reason for now expanding into the Brazil and South American market is because the color cosmetics category is fast-growing in this region, with the market in Brazil currently estimated to be worth $2.7bn.
But the organizers are also hoping to attract exhibitors and visitors from across the South American region, in particular from countries such as Colombia, Peru, Venezuela and Argentina, where strong growth has also been recorded in the category.
The organizers say they are targeting a fast-growing market for color cosmetics in Brazil, with an estimated 85 million women said to be using such products on a daily basis, with user rates continuing to increase significantly.
Expansion of retail segment fuels growth
The main driving force for the growth for these business has been derived by investment to increase the size of the business, coupled with upgrading and further development of the distribution networks.
With respect to the distribution networks, growth for the color cosmetics category has increasingly relied on the expansion of both the pharmacy and online retail sectors, which have expanded and matured in recent years.
Although the bulk of sales are still derived from door-to-door sales, with domestic player Natura and global player Avon carving up the most part of that market, a network of over 60,000 chain and independent stores are being expanded rapidly by significant investment, making way for new retail opportunities for cosmetics players.
