Grupo Boticário: Crafting a Multi-Brand, Multi-Channel Global Beauty Powerhouse (Portuguese)

This case traces the evolution of Grupo Boticário from a single-brand perfumery in Brazil to a multi-brand, multi-channel beauty powerhouse. As the company builds one of the world’s largest proprietary distribution networks and deepens its ecosystem model, CEO Fernando Modé faces a series of complex strategic choices. These include how to balance brand autonomy with operational integration, how to scale innovation across channels, and whether to prioritize growth through adjacencies or international expansion. Drawing on the company's past attempts to go global and the lessons from domestic scaling, the case highlights the trade-offs between focus and diversification. It invites discussion on how an emerging-market leader can navigate complexity, maintain agility, and execute strategy in a fast-moving, consumer-driven industry.