CORRECTED-(OFFICIAL)-Brazil's Grupo Boticário agrees to buy e-commerce platform Beleza na Web [Reuters]
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Source: Reuters
CORRECTED-(OFFICIAL)-Brazil's Grupo Boticário agrees to buy e-commerce platform Beleza na Web - Reuters 2 Min Read (Company corrects number of The Beauty Box stores in the last paragraph to 40 from 47) SAO PAULO, Aug 12 (Reuters) - Brazilian cosmetics firm Grupo Boticário said on Monday it had agreed to buy e-commerce platform Beleza na Web for undisclosed amount, as part of plans to strengthen its online presence while competition intensifies in the beauty business. The move comes as Brazil’s cosmetics market is consolidating. Rival Natura SA agreed in May to merge with Avon Products Inc to create the world’s fourth-largest beauty company. “With Beleza na Web we seek to strengthen our position in the multibrand market and our multichannel approach, integrating one of the main multibrand platforms in Brazil into the group,” Grupo Boticário’s vice-president of New Channels, Isabella Wanderley, said in a statement. Founded in 2008, Beleza na Web has over 360 national and international b
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