COLOUR COSMETICS IN BRAZIL. Euromonitor International June 2012

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COLOUR COSMETICS IN BRAZIL

Euromonitor International

June 2012

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LIST OF CONTENTS AND TABLES

Headlines ... 1 Trends ... 1 Competitive Landscape ... 2 Prospects ... 2 Category Data ... 3

Table 1 Sales of Colour Cosmetics by Category: Value 2006-2011 ... 3

Table 2 Sales of Colour Cosmetics by Category: % Value Growth 2006-2011 ... 4

Table 3 Colour Cosmetics Company Shares 2007-2011 ... 5

Table 4 Colour Cosmetics Brand Shares by GBN 2008-2011... 6

Table 5 Eye Make-up Brand Shares by GBN 2008-2011 ... 7

Table 6 Facial Make-up Brand Shares by GBN 2008-2011 ... 9

Table 7 Lip Products Brand Shares by GBN 2008-2011 ... 10

Table 8 Nail Products Brand Shares by GBN 2008-2011 ... 11

Table 9 Colour Cosmetics Premium Brand Shares by GBN 2008-2011 ... 12

Table 10 Forecast Sales of Colour Cosmetics by Category: Value 2011-2016 ... 12

Table 11 Forecast Sales of Colour Cosmetics by Category: % Value Growth 2011-2016 ... 13

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COLOUR COSMETICS IN BRAZIL

HEADLINES

 Colour cosmetics increases by 6% in current value terms in 2011, reaching R$6.0 billion  Botica Comercial Farmacêutica (O Boticário) sees an increase in colour cosmetics after the

launch of Make B, positioned as sophisticated make-up

 Facial make-up sees the strongest current value growth in 2011, with an increase of 13%  Higher overall value than volume growth

 Colour cosmetics is expected to see a good performance in the 2011-2016 forecast period, with a constant value CAGR of 8%

TRENDS

 The franchised company Botica Comercial Farmacêutica (O Boticário) saw the biggest increase in 2011, with growth of two percentage points in value share. After the launch of Make B in 2010, Botica (O Boticário) emphasised its masstige position mainly in fashion weeks, besides investing significant resources to promote the brand. The company invested R$26 million in a new autumn/winter 2012 make-up collection for Make B, shown during the 32nd edition São Paulo Fashion Week (SPFW) in January 2012.

 Colour cosmetics registered weak current value growth of 6% in 2011, compared with vigorous growth achieved during the 2011-2016 review period, with a CAGR of 16% in current value terms. In 2011 Avon Cosméticos lost share in key core categories within its portfolio, including colour cosmetics, due to structural problems as a consequence of the transfer of its distribution centre to Cabreúva. Natura Cosméticos also faced problems related to factory expansion and the poor implementation of new information systems in the year.

Consequently, such problems reflected in delivery delays to sales representatives, and consequently, sales were cancelled by customers.

 Facial make-up saw the most dynamic performance within colour cosmetics in 2011, with an increase of 13% in current value terms. Facial make-up saw the development of more innovative products in recent years which offer benefits such as achieving a more uniform skin tone, UV protection and anti-ageing properties.

 Eye make-up also posted a positive performance in 2011, with growth of 11% in current value terms. Categories such as other eye make-up (liquid eye liner) and eye shadow were the most dynamic within eye make-up in 2011, with value growth of 29% and 18% respectively. It is important to highlight that eye make-up surpassed lip products in terms of value sales in 2011, becoming the largest category within colour cosmetics in the year.

 In general, leading manufacturers showed in the media how to use more make-up items to create a natural look, which is the preference amongst Brazilian women in terms of their appearance. This led an increasing number of women to try such products.

 In 2011 lip products and nail products showed poor performances, as both categories saw a decline in volume sales. The former was impacted mainly by the poor performance of the leading company Avon Cosméticos, whilst nail products saw stable volume sales during the year after phenomenal growth in 2010.

 Despite its small base within colour cosmetics, the premium segment saw an increase in share during the 2006-2011 review period, increasing from less than 2% in 2006 to more than

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2% in 2011. In particular, Estée Lauder Brasil with the Mac brand contributed to achieving such a result thanks to its unconventional make-up products under professional craft.

COMPETITIVE LANDSCAPE

 Avon Cosméticos led colour cosmetics in 2011 with a 31% value share, although it saw a decrease in share compared with the previous year, mostly because its internal problems affected deliveries. Despite this, the company predicts that this situation will be corrected shortly. Overall, its leading position in colour cosmetics was achieved due to its acceptable quality at reasonable prices; its products are often offered on special promotion through its catalogues. Key launches by Avon Cosméticos in colour cosmetics in 2011 were a new lipstick under the Colordisiac brand with aphrodisiac fragrance, and a new make-up line with long-lasting effects.

 Natura Cosméticos ranked second with a value share of 14% within colour cosmetics in 2011, with a significant increase in share of two percentage points compared with the previous year. The company continued to promote Natura Una, a make-up line positioned as a masstige brand. Its formula has anti-ageing technology and active ingredients from Brazil in sophisticated packaging.

 Thanks to its exceptional growth in 2011, Botica Comercial Farmacêutica (O Boticário) surpassed other companies in terms of value share, such as Hypermarcas and Belocap Produtos Capilares (L’Oréal). Besides sponsoring São Paulo Fashion Week, as its key strategy is to associate its brand with fashion events, the company also invests significant resources in new launches and advertising campaigns.

 As usual, colour cosmetics saw a significant number of new product launches in 2011. The majority of these were focused on seasonal collections, including new colours, besides incorporating new technologies.

 In June 2011 Botica Comercial Farmacêutica (O Boticário) expanded its make-up portfolio with the launch of Make B Mineral, which promises sophistication, technology and fashion trends. There are 12 products inspired by nature, especially by minerals, with soft textures and a perfect finish. The innovations were developed for all skin types, but especially sensitive skin.

 A key launch was introduced by Belocap Produtos Capilares (L’Oréal) under the Maybelline brand in facial make-up. The company launched a new foundation, The Eraser; this includes in its formulation hyaluronic acid, collagen and goji berries, a fruit from the Himalayas which is composed of four special polysaccharides and enriched with vitamin C.

 Domestic companies led colour cosmetics in 2011, accounting for a 55% share of overall sales. Natura Cosméticos, Botica (O Boticário) and Hypermarcas are the key domestic companies, and the first two companies have a complete portfolio of make-up (except nail products), whilst the latter concentrates its efforts particularly on nail polishes.

PROSPECTS

 Colour cosmetics is expected to perform well in the forecast period, with overall constant value growth of 47% between 2011 and 2016. Strong constant value price increases of 15-25% throughout all categories of colour cosmetics are expected during the 2011-2016 forecast period. There is expected to be a clear trend whereby leading companies such as Avon Cosméticos and Natura Cosméticos will continue to offer value-added products in the coming years, forcing consumers to switch from standard products to masstige products.

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 The sponsorship of fashion events and brands associated with make-up artists are expected to be key strategies to increase sales of colour cosmetics over the 2011-2016 forecast period.  Eye make-up and facial make-up are expected to see the most dynamic performances within

colour cosmetics during the 2011-2016 forecast period, with constant value growth of 60% and 58% respectively, thanks to increasing penetration amongst Brazilian women through greater frequency of use, as well as the offer of multifunctional products.

 As unit prices of mass lipstick were flat during the period 2009-2011, manufacturers expect a strong CAGR in the period 2011-2016 compared with the last edition’s 2010-2015 CAGR, due to recovering margins, and in part thanks to the increasing participation of value-added products over the coming years.

 New product launches are expected to perform well in the short term. With increasing purchasing power amongst emergent socioeconomic groups, masstige make-up such as Natura Una from Natura Cosméticos and Make B from Botica (O Boticário) will tend to continue increasing their shares in the coming years.

 Intense and unusual colours are forecast to gain popularity, especially in nail polishes, following recent trends in such products. In this sense, the leading companies should develop their new colour palettes with this in mind.

 In some categories, such as mass eye shadow, mass mascara and mass lip gloss, there was a strong drop in 2011 retail volumes after very strong growth in 2010, and sales will tend to rebound over the period 2012-2016. Particularly in 2011, such products were affected by the performance of Avon Cosméticos, which had structural problems due to the transfer of its new distribution centre to Cabreúva, affecting deliveries of products to consumers. However, trade sources report that such products have great potential for growth over the forecast period.

CATEGORY DATA

Table 1 Sales of Colour Cosmetics by Category: Value 2006-2011

R$ million

2006 2007 2008 2009 2010 2011

Eye Make-Up 631.8 770.7 886.2 1,125.5 1,389.8 1,546.9

- Eye Liner/Pencil 180.1 220.4 241.2 326.8 355.3 413.8

-- Premium Eye Liner/ 4.6 5.2 6.0 7.5 9.3 9.8

Pencil

-- Mass Eye Liner/Pencil 175.4 215.3 235.2 319.3 346.0 404.0

- Eye Shadow 217.9 251.2 273.5 331.0 446.8 527.4

-- Premium Eye Shadow 4.9 5.3 6.3 7.7 9.6 11.8

-- Mass Eye Shadow 212.9 245.9 267.3 323.3 437.3 515.6

- Mascara 206.3 256.7 319.0 392.2 494.7 485.7

-- Premium Mascara 6.4 7.2 8.8 14.5 19.1 23.0

-- Mass Mascara 200.0 249.4 310.2 377.7 475.6 462.7

- Other Eye Make-Up 27.5 42.4 52.4 75.5 92.9 119.9

-- Premium Other Eye - - - -

Make-Up

-- Mass Other Eye Make-Up 27.5 42.4 52.4 75.5 92.9 119.9

Facial Make-Up 506.7 546.2 738.4 1,032.3 1,285.3 1,455.0 - Blusher/Bronzer/ 127.2 87.2 111.9 194.8 267.4 314.3 Highlighter -- Premium Blusher/ 1.2 1.4 1.6 2.0 2.7 3.2 Bronzer/Highlighter -- Mass Blusher/Bronzer/ 126.0 85.8 110.4 192.8 264.7 311.1 Highlighter

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- Foundation/Concealer 186.2 234.6 311.0 419.8 521.8 599.5 -- Premium Foundation/ 4.4 6.9 8.4 10.9 14.4 17.4 Concealer -- Mass Foundation/ 181.8 227.7 302.6 409.0 507.5 582.1 Concealer - Powder 150.2 179.2 254.4 338.4 411.3 438.0 -- Premium Powder 2.2 2.4 2.8 3.5 4.4 5.2 -- Mass Powder 148.1 176.8 251.6 334.9 406.9 432.7

- Other Facial Make-Up 43.1 45.2 61.1 79.4 84.8 103.3

-- Premium Other Facial 0.9 1.0 1.2 1.3 1.7 2.0

Make-Up

-- Mass Other Facial 42.2 44.2 59.9 78.1 83.1 101.3

Make-Up

Lip Products 1,127.2 1,163.6 1,309.0 1,411.5 1,497.3 1,482.9

- Lip Gloss 345.7 363.8 435.5 428.9 539.3 450.4

-- Premium Lip Gloss 5.8 6.9 8.2 9.6 11.9 14.0

-- Mass Lip Gloss 339.9 356.9 427.3 419.3 527.4 436.5

- Lip Liner/Pencil 35.3 31.8 28.7 27.8 30.8 38.6

-- Premium Lip Liner/ 0.9 1.0 1.1 1.3 1.5 1.7

Pencil

-- Mass Lip Liner/Pencil 34.4 30.8 27.6 26.6 29.3 36.9

- Lipstick 745.8 767.5 844.1 953.8 926.1 992.5

-- Premium Lipstick 13.3 18.1 21.2 25.3 31.8 38.3

-- Mass Lipstick 732.6 749.4 822.9 928.5 894.3 954.2

- Other Lip Products 0.4 0.5 0.7 0.9 1.1 1.3

-- Premium Other Lip - - - -

Products

-- Mass Other Lip 0.4 0.5 0.7 0.9 1.1 1.3

Products

Nail Products 540.7 622.0 694.0 935.9 1,460.4 1,481.5

- Nail Polish 428.7 496.7 554.0 786.7 1,211.5 1,203.9

-- Premium Nail Polish 1.8 1.9 2.0 3.0 4.3 5.1

-- Mass Nail Polish 426.9 494.8 552.0 783.7 1,207.2 1,198.8

- Nail Treatments/ 54.0 61.5 72.0 57.6 89.1 109.9

Strengthener

-- Premium Nail - - - -

Treatments/Strengthener

-- Mass Nail Treatments/ 54.0 61.5 72.0 57.6 89.1 109.9

Strengthener

- Polish Remover 38.4 41.8 45.3 50.7 67.9 70.6

-- Premium Polish Remover - - - -

-- Mass Polish Remover 38.4 41.8 45.3 50.7 67.9 70.6

- Other Nail Products 19.6 22.1 22.7 40.9 91.9 97.0

-- Premium Other Nail - - - -

Products

-- Mass Other Nail 19.6 22.1 22.7 40.9 91.9 97.0

Products

Colour Cosmetics 2,806.3 3,102.4 3,627.6 4,505.2 5,632.9 5,966.2

Source: Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Table 2 Sales of Colour Cosmetics by Category: % Value Growth 2006-2011

% current value growth

2010/11 2006-11 CAGR 2006/11 Total

Eye Make-Up 11.3 19.6 144.9

- Eye Liner/Pencil 16.5 18.1 129.8

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-- Mass Eye Liner/Pencil 16.8 18.2 130.3

- Eye Shadow 18.0 19.3 142.1

-- Premium Eye Shadow 23.5 19.1 140.1

-- Mass Eye Shadow 17.9 19.3 142.1

- Mascara -1.8 18.7 135.4

-- Premium Mascara 20.3 29.4 262.6

-- Mass Mascara -2.7 18.3 131.4

- Other Eye Make-Up 29.1 34.2 335.8

-- Premium Other Eye Make-Up - - -

-- Mass Other Eye Make-Up 29.1 34.2 335.8

Facial Make-Up 13.2 23.5 187.1 - Blusher/Bronzer/Highlighter 17.6 19.8 147.1 -- Premium Blusher/Bronzer/Highlighter 19.7 21.0 159.9 -- Mass Blusher/Bronzer/Highlighter 17.5 19.8 146.9 - Foundation/Concealer 14.9 26.3 221.9 -- Premium Foundation/Concealer 21.2 31.7 296.7 -- Mass Foundation/Concealer 14.7 26.2 220.1 - Powder 6.5 23.9 191.5 -- Premium Powder 19.0 19.0 139.0 -- Mass Powder 6.3 23.9 192.3

- Other Facial Make-Up 21.8 19.1 140.0

-- Premium Other Facial Make-Up 18.4 18.5 134.1

-- Mass Other Facial Make-Up 21.9 19.1 140.1

Lip Products -1.0 5.6 31.6

- Lip Gloss -16.5 5.4 30.3

-- Premium Lip Gloss 17.4 19.2 140.2

-- Mass Lip Gloss -17.2 5.1 28.4

- Lip Liner/Pencil 25.3 1.8 9.5

-- Premium Lip Liner/Pencil 10.5 14.3 95.4

-- Mass Lip Liner/Pencil 26.0 1.4 7.4

- Lipstick 7.2 5.9 33.1

-- Premium Lipstick 20.5 23.6 188.6

-- Mass Lipstick 6.7 5.4 30.3

- Other Lip Products 18.6 26.9 229.2

-- Premium Other Lip Products - - -

-- Mass Other Lip Products 18.6 26.9 229.2

Nail Products 1.4 22.3 174.0

- Nail Polish -0.6 22.9 180.8

-- Premium Nail Polish 20.0 23.8 190.6

-- Mass Nail Polish -0.7 22.9 180.8

- Nail Treatments/Strengthener 23.4 15.3 103.8

-- Premium Nail Treatments/Strengthener - - -

-- Mass Nail Treatments/Strengthener 23.4 15.3 103.8

- Polish Remover 4.0 12.9 83.7

-- Premium Polish Remover - - -

-- Mass Polish Remover 4.0 12.9 83.7

- Other Nail Products 5.6 37.7 394.7

-- Premium Other Nail Products - - -

-- Mass Other Nail Products 5.6 37.7 394.7

Colour Cosmetics 5.9 16.3 112.6

Table 3 Colour Cosmetics Company Shares 2007-2011

% retail value rsp

Company 2007 2008 2009 2010 2011

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Natura Cosméticos SA 14.1 12.6 13.0 12.1 14.1 Botica Comercial 6.5 6.6 7.2 7.9 10.3 Farmacêutica Ltda Hypermarcas SA - - 7.0 9.3 9.3 Belocap Produtos 8.5 7.9 8.0 9.3 9.1 Capilares Ltda Contém 1g SA 0.6 1.8 2.1 2.3 2.9 Jequiti Cosméticos 0.2 0.4 1.3 1.9 2.3 Laboratório Avamiller 2.5 2.0 1.8 2.2 2.1 de Cosméticos Ltda Marcelo Beauty 2.1 2.1 2.0 1.9 2.1

Estée Lauder Brasil 0.4 0.6 0.6 0.7 0.9

Atalanta Laboratórios e 0.9 0.9 0.9 0.8 0.8

Cosméticos Ltda

Mary Kay do Brasil Ltda 0.5 0.6 0.6 0.6 0.8

Vult Comércio de 0.3 0.4 0.4 0.5 0.5

Cosméticos Ltda

Frajo Internacional de - 0.6 0.5 0.4 0.5

Cosméticos Ltda

LVMH Perfums & 0.6 0.5 0.5 0.4 0.4

Cosmetics do Brasil Ltda

Shiseido Brasil Ltda 0.2 0.2 0.1 0.1 0.1

Meica Brasil Cosméticos 0.1 0.1 0.1 0.0 0.0

Ltda

Niasi SA 6.6 7.2 - - -

Amway do Brasil Ltda 0.5 0.1 - - -

Ceil Comércio e 0.8 - - - - Distribuidora Ltda Ceil Comercial - - - - - Exportadora Industrial Ltda BDF Nivea Ltda - - - - - Yves Rocher - - - - -

Coty Brasil Indústria e - - - - -

Comércio de Cosméticos Ltda

Others 23.1 22.5 19.4 17.8 13.2

Total 100.0 100.0 100.0 100.0 100.0

Table 4 Colour Cosmetics Brand Shares by GBN 2008-2011

% retail value rsp

Brand Company 2008 2009 2010 2011

Avon Avon Cosméticos Ltda 33.1 34.4 31.5 30.5

Risqué Hypermarcas SA - 7.0 9.3 9.3

Colorama Maybelline Belocap Produtos 6.5 6.6 8.0 7.8

Capilares Ltda

Natura Aquarela Natura Cosméticos SA 4.4 5.6 5.6 6.2

Make B Botica Comercial - - 2.1 5.5

Farmacêutica Ltda

Natura Una Natura Cosméticos SA - - 4.3 5.4

Contém 1g Contém 1g SA 1.8 2.1 2.3 2.9

Capricho Cores Botica Comercial 2.0 2.2 2.4 2.8

Farmacêutica Ltda

Natura Faces Natura Cosméticos SA 1.6 2.0 2.2 2.4

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Impala Laboratório Avamiller 2.0 1.8 2.2 2.1 de Cosméticos Ltda

Marcelo Beauty 2.1 2.0 1.9 2.1

Intense Botica Comercial - 0.8 1.3 1.9

Farmacêutica Ltda

Payot Atalanta Laboratórios e 0.9 0.9 0.8 0.8

Cosméticos Ltda

Mac Estée Lauder Brasil 0.4 0.5 0.6 0.8

Mary Kay Mary Kay do Brasil Ltda 0.6 0.6 0.6 0.8

Vult Vult Comércio de 0.4 0.4 0.5 0.5

Cosméticos Ltda

Lancôme Belocap Produtos 0.5 0.5 0.4 0.4

Capilares Ltda

Dior LVMH Perfums & 0.4 0.4 0.3 0.3

L'Oréal Perfection Belocap Produtos 0.4 0.4 0.3 0.3

Capilares Ltda

Revlon Super Lustrous Frajo Internacional de 0.3 0.3 0.3 0.3

Cosméticos Ltda

Revlon Frajo Internacional de 0.2 0.2 0.2 0.2

Cosméticos Ltda

Shiseido Shiseido Brasil Ltda 0.2 0.1 0.1 0.1

Yves Saint Laurent Belocap Produtos - 0.1 0.1 0.1

Capilares Ltda

Clinique Estée Lauder Brasil 0.1 0.1 0.1 0.1

Givenchy LVMH Perfums & 0.1 0.1 0.1 0.1

Boticário Botica Comercial 4.4 4.1 2.1 -

Farmacêutica Ltda

Natura Diversa Natura Cosméticos SA 5.8 5.3 - -

Risqué Niasi SA 7.2 - - -

Natura Única Natura Cosméticos SA 0.7 - - -

Cores Botica Comercial 0.2 - - -

Farmacêutica Ltda

Artistry Amway do Brasil Ltda 0.1 - - -

Helena Rubinstein Belocap Produtos - - - -

Capilares Ltda

Maybelline Belocap Produtos - - - -

Capilares Ltda

Natural Colors Botica Comercial - - - -

Farmacêutica Ltda

ColorStay Ceil Comercial - - - -

Exportadora Industrial Ltda

ColorStay Ceil Comércio e - - - -

Distribuidora Ltda

Cotygirl Miss Sporty Coty Brasil Indústria e - - - -

Jafra Meica Brasil Cosméticos - - - -

Ltda

Natura Natura Cosméticos SA - - - -

Others 23.0 19.9 18.4 13.8

Total 100.0 100.0 100.0 100.0

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% retail value rsp

Brand Company 2008 2009 2010 2011

Farmacêutica Ltda

Jequiti Jequiti Cosméticos 0.4 1.5 2.1 2.7

Capilares Ltda

Farmacêutica Ltda

Cosméticos Ltda

Revlon Frajo Internacional de 0.8 0.7 0.6 0.7

Cosméticos Ltda

Capilares Ltda

Farmacêutica Ltda

Faces de Natura Natura Cosméticos SA 0.2 - - -

Farmacêutica Ltda

Nu Skin Nu Skin Brasil Ltda 0.1 - - -

Nivea Beauté BDF Nivea Ltda - - - -

Capilares Ltda

Farmacêutica Ltda

Distribuidora Ltda

Revlon Ceil Comércio e - - - -

Distribuidora Ltda

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Jafra Meica Brasil Cosméticos - - - - Ltda

Yves Rocher - - - -

Others 26.9 22.6 23.7 21.8

Total 100.0 100.0 100.0 100.0

Table 6 Facial Make-up Brand Shares by GBN 2008-2011

% retail value rsp

Brand Company 2008 2009 2010 2011

Farmacêutica Ltda

Cosméticos Ltda

Capilares Ltda

Cosméticos Ltda

Capilares Ltda

New Complexion Frajo Internacional de 0.1 0.1 0.1 0.1

Cosméticos Ltda

Jafra Meica Brasil Cosméticos 0.1 0.1 0.0 0.0

Ltda

Farmacêutica Ltda

Artistry Amway do Brasil Ltda - - - -

Nivea Beauté BDF Nivea Ltda - - - -

Capilares Ltda

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Natural Colors Botica Comercial - - - - Farmacêutica Ltda

New Complexion Ceil Comercial - - - -

Faces de Natura Natura Cosméticos SA - - - -

Yves Rocher - - - -

Others 24.9 19.6 15.9 13.0

Total 100.0 100.0 100.0 100.0

Table 7 Lip Products Brand Shares by GBN 2008-2011

% retail value rsp

Brand Company 2008 2009 2010 2011

Farmacêutica Ltda

Capilares Ltda

Cosméticos Ltda

Revlon SuperLustrous Frajo Internacional de 1.0 1.0 1.0 1.1

Cosméticos Ltda

Capilares Ltda

Cosméticos Ltda

Jafra Meica Brasil Cosméticos 0.1 0.1 0.1 0.1

Ltda

Capilares Ltda

Farmacêutica Ltda

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Artistry Amway do Brasil Ltda 0.2 - - -

Farmacêutica Ltda

Wet 'n' Wild AM Cosmetics Inc - - - -

Capilares Ltda

Farmacêutica Ltda

Distribuidora Ltda

Revlon SuperLustrous Ceil Comércio e - - - -

Distribuidora Ltda

Yves Rocher - - - -

Others 23.1 17.4 13.7 3.0

Total 100.0 100.0 100.0 100.0

Table 8 Nail Products Brand Shares by GBN 2008-2011

% retail value rsp

Brand Company 2008 2009 2010 2011

Risqué Hypermarcas SA - 33.7 35.9 37.6

Colorama Belocap Produtos 27.8 26.0 26.8 27.1

Capilares Ltda

Impala Laboratório Avamiller 10.3 8.8 8.5 8.5

de Cosméticos Ltda

Capilares Ltda

Lancôme Belocap Produtos 0.0 0.0 0.0 -

Capilares Ltda

Risqué Niasi SA 37.8 - - -

Colorama Maybelline Belocap Produtos - - - -

Capilares Ltda

Revlon Ceil Comercial - - - -

Revlon Ceil Comércio e - - - -

Distribuidora Ltda

Xuxa Laboratório Avamiller - - - -

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Others 15.6 20.8 20.4 16.8

Total 100.0 100.0 100.0 100.0

Table 9 Colour Cosmetics Premium Brand Shares by GBN 2008-2011

% retail value rsp

Brand Company 2008 2009 2010 2011

Capilares Ltda

Others 4.2 5.2 10.3 13.8

Total 100.0 100.0 100.0 100.0

Table 10 Forecast Sales of Colour Cosmetics by Category: Value 2011-2016

R$ million

2011 2012 2013 2014 2015 2016

Eye Make-Up 1,546.9 1,697.5 1,882.6 2,075.0 2,269.6 2,476.4

- Eye Liner/Pencil 413.8 438.5 473.4 511.7 546.8 580.8

-- Premium Eye Liner/ 9.8 10.7 11.5 12.2 13.0 13.7

Pencil

-- Mass Eye Liner/Pencil 404.0 427.8 461.9 499.5 533.8 567.1

- Eye Shadow 527.4 570.4 618.3 680.8 743.6 802.9

-- Premium Eye Shadow 11.8 13.1 14.2 15.4 16.4 17.6

-- Mass Eye Shadow 515.6 557.4 604.1 665.5 727.1 785.3

- Mascara 485.7 550.9 636.8 708.2 784.5 880.4

-- Premium Mascara 23.0 26.1 29.6 32.9 36.6 40.2

-- Mass Mascara 462.7 524.8 607.2 675.2 747.9 840.1

- Other Eye Make-Up 119.9 137.6 154.1 174.3 194.7 212.4

-- Premium Other Eye - - - -

Make-Up

-- Mass Other Eye Make-Up 119.9 137.6 154.1 174.3 194.7 212.4 Facial Make-Up 1,455.0 1,601.7 1,748.9 1,915.4 2,103.3 2,302.4 - Blusher/Bronzer/ 314.3 335.4 366.8 396.7 428.0 459.9 Highlighter -- Premium Blusher/ 3.2 3.7 4.1 4.6 5.0 5.4 Bronzer/Highlighter -- Mass Blusher/Bronzer/ 311.1 331.8 362.7 392.2 423.0 454.6 Highlighter - Foundation/Concealer 599.5 657.9 722.2 792.1 879.9 972.8 -- Premium Foundation/ 17.4 19.9 22.3 24.4 26.9 29.1 Concealer

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-- Mass Foundation/ 582.1 638.0 699.9 767.7 853.0 943.8 Concealer

- Powder 438.0 490.8 527.1 578.0 631.8 690.1

-- Premium Powder 5.2 5.9 6.6 7.2 7.7 8.2

-- Mass Powder 432.7 484.9 520.6 570.8 624.1 681.9

- Other Facial Make-Up 103.3 117.5 132.7 148.6 163.6 179.6

-- Premium Other Facial 2.0 2.3 2.4 2.6 2.8 3.1

Make-Up

-- Mass Other Facial 101.3 115.2 130.2 146.0 160.7 176.5

Make-Up

Lip Products 1,482.9 1,592.8 1,706.6 1,836.0 1,962.6 2,107.0

- Lip Gloss 450.4 470.8 492.8 514.2 539.7 564.7

-- Premium Lip Gloss 14.0 15.7 17.2 18.5 20.0 21.5

-- Mass Lip Gloss 436.5 455.1 475.7 495.7 519.7 543.2

- Lip Liner/Pencil 38.6 40.7 42.7 44.7 46.7 48.9

-- Premium Lip Liner/ 1.7 1.7 1.8 1.8 1.9 2.0

Pencil

-- Mass Lip Liner/Pencil 36.9 39.0 40.9 42.8 44.8 46.9

- Lipstick 992.5 1,079.8 1,169.5 1,275.5 1,374.3 1,491.4

-- Premium Lipstick 38.3 42.8 46.9 51.4 55.6 60.1

-- Mass Lipstick 954.2 1,037.1 1,122.6 1,224.1 1,318.7 1,431.2

- Other Lip Products 1.3 1.4 1.6 1.7 1.8 2.0

-- Premium Other Lip - - - -

Products

-- Mass Other Lip 1.3 1.4 1.6 1.7 1.8 2.0

Products

Nail Products 1,481.5 1,558.4 1,643.1 1,714.6 1,802.7 1,867.9 - Nail Polish 1,203.9 1,260.6 1,327.6 1,380.6 1,452.8 1,502.9

-- Premium Nail Polish 5.1 5.6 5.9 6.3 6.9 7.4

-- Mass Nail Polish 1,198.8 1,255.1 1,321.7 1,374.2 1,446.0 1,495.5

- Nail Treatments/ 109.9 116.0 121.3 126.4 131.0 134.9

Strengthener

-- Premium Nail - - - -

Treatments/Strengthener

-- Mass Nail Treatments/ 109.9 116.0 121.3 126.4 131.0 134.9

Strengthener

- Polish Remover 70.6 75.7 80.8 85.8 89.7 93.7

-- Premium Polish Remover - - - -

-- Mass Polish Remover 70.6 75.7 80.8 85.8 89.7 93.7

- Other Nail Products 97.0 106.0 113.4 121.9 129.1 136.4

-- Premium Other Nail - - - -

Products

-- Mass Other Nail 97.0 106.0 113.4 121.9 129.1 136.4

Products

Colour Cosmetics 5,966.2 6,450.4 6,981.2 7,541.1 8,138.1 8,753.8

Source: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

Table 11 Forecast Sales of Colour Cosmetics by Category: % Value Growth 2011-2016

% constant value growth

2011-16 CAGR 2011/16 TOTAL

Eye Make-Up 9.9 60.1

- Eye Liner/Pencil 7.0 40.4

-- Premium Eye Liner/Pencil 6.9 39.9

-- Mass Eye Liner/Pencil 7.0 40.4

- Eye Shadow 8.8 52.2

(16)

-- Mass Eye Shadow 8.8 52.3

- Mascara 12.6 81.2

-- Premium Mascara 11.8 74.7

-- Mass Mascara 12.7 81.6

- Other Eye Make-Up 12.1 77.1

-- Premium Other Eye Make-Up - -

-- Mass Other Eye Make-Up 12.1 77.1

Facial Make-Up 9.6 58.2 - Blusher/Bronzer/Highlighter 7.9 46.3 -- Premium Blusher/Bronzer/Highlighter 10.9 67.5 -- Mass Blusher/Bronzer/Highlighter 7.9 46.1 - Foundation/Concealer 10.2 62.3 -- Premium Foundation/Concealer 10.8 66.8 -- Mass Foundation/Concealer 10.1 62.1 - Powder 9.5 57.6 -- Premium Powder 9.4 56.4 -- Mass Powder 9.5 57.6

- Other Facial Make-Up 11.7 73.8

-- Premium Other Facial Make-Up 8.6 51.0

-- Mass Other Facial Make-Up 11.8 74.3

Lip Products 7.3 42.1

- Lip Gloss 4.6 25.4

-- Premium Lip Gloss 9.0 54.2

-- Mass Lip Gloss 4.5 24.4

- Lip Liner/Pencil 4.9 26.8

-- Premium Lip Liner/Pencil 3.5 18.8

-- Mass Lip Liner/Pencil 4.9 27.1

- Lipstick 8.5 50.3

-- Premium Lipstick 9.5 57.1

-- Mass Lipstick 8.4 50.0

- Other Lip Products 8.3 48.9

-- Premium Other Lip Products - -

-- Mass Other Lip Products 8.3 48.9

Nail Products 4.7 26.1

- Nail Polish 4.5 24.8

-- Premium Nail Polish 7.8 45.3

-- Mass Nail Polish 4.5 24.7

- Nail Treatments/Strengthener 4.2 22.7

-- Premium Nail Treatments/Strengthener - -

-- Mass Nail Treatments/Strengthener 4.2 22.7

- Polish Remover 5.8 32.7

-- Premium Polish Remover - -

-- Mass Polish Remover 5.8 32.7

- Other Nail Products 7.0 40.5

-- Premium Other Nail Products - -

-- Mass Other Nail Products 7.0 40.5

Colour Cosmetics 8.0 46.7

Source: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources