The NPD Group said on Monday that it has made an investment in market research firm Segmenta, which tracks prestige beauty markets in Mexico, Argentina, Brazil, Columbia, Chile, Peru, Venezuela and Uruguay. In addition, Mark Turim, president and general manager for NPD, has joined Segmenta’s board of directors as part of the deal.
“Our investment in Segmenta gives us a foothold in one of the world’s fastest growing markets for the industry, Latin America,” said Turim. “Their strong leadership, proven success and ambitious plans to roll out new services make Segmenta an ideal partner for NPD as we look to continue delivering more global information to our clients.”
With more than 90 clients, Segmenta currently provides tracking information for more than 900 stores in Latin American. “Our partnership with NPD will give us the additional resources we need to look at new markets that are becoming more and more important to beauty manufacturers,” said Miguel Argaez, director general of Segmenta. “Our services are highly complementary, and we are looking forward to sharing our knowledge in this area.”