By  on August 2, 2013

NEW YORK — The lid is about to be blown off the simmering Brazilian beauty market. And a group of beauty veterans plan to be at the center of the boom.

Last week, Brasil Beauté — led by Paul Block, a former chairman and president of Revlon International; Renaud Dutreil, former chairman of LVMH America, and Joe Lago, former partner of the fashion brand Ellus — took over ownership of the Agua de Cheiro personal care chain from Henrique Pinto, owner of the Globalbras Group. Pinto rolled a minority interest of his holdings into the new company. Further terms of the deal were not disclosed. Currently, the 800-unit chain stocks its proprietary brands in stores averaging 350 square feet.

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