Brazil is quickly heating up the world stage as the recent winner of the 2014 World Cup and 2016 Olympic Games. As all eyes in the sports world turn toward the beauty-obsessed nation, cosmetics companies are likely to follow. Already the leading global player in Latin America—thanks in part to a culture that puts a premium on looking good—Brazil’s cosmetics and toiletries market ranks third in the world, according to Euromonitor International, trailing only the U.S. and Japan, with sales of about $29 billion in 2008, up 10.4 percent from 2007. And if previous Olympic Games are any indication, it’s only a matter of time before dominant international brands such as Avon, Procter & Gamble, Unilever and Colgate-Palmolive, which collectively control 32 percent of Brazil’s beauty market, begin to cash in on all of the attention.
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