BW Confidential - Issue #17 - March/April 2014 - (Page 66)

credit: istock Market watch: Latin America Colombia: country analysis Securing growth Political stability and growing purchasing power will likely see more beauty players invest in Colombia by Alex Wynne I ncreasing political stability and security in Colombia in recent years, coupled with doubledigit growth in prestige beauty, is making the country a sounder investment for brands. Although little reliable data on the beauty sector is available-Segmenta plans to begin tracking the market this year-industry players agree that Colombia is poised for years of buoyant growth, and are investing accordingly. "We have low inflation, unemployment is going down, poverty is going down and we have low interest rates, so the macro-economy is ok," comments Jaime Mauricio Concha, executive director of the cosmetics and personalcare chamber of Colombian national business association ANDI. "Some 10 years ago we had a per capita income of $2,000 per year; now, it 66 " We have low inflation, unemployment is going down, poverty is going down and we have low interest rates. Some 10 years ago we had a per capita income of $2,000 per year; now it is nearly $10,000 ANDI executive director Jaime Mauricio Concha " is nearly $10,000. Foreign investment was around $2bn yearly; now, that is nearly $16bn." he continues. More women are entering the workforce and greater security means that it is safer for Colombians to travel around the country, boosting the development of prestige retail and in turn, sales of high-end beauty products. "Bogota is probably now more secure than many of the capitals of Latin America," Coty Prestige regional director, Americas travel retail and export Tanguy de Buchet comments. "We have invested there significantly over the past three years, because we sensed that the market is changing," says BPI general manager for the Americas Gérard Pichon-Varin. Local perfumery chain Fedco founder Leo March-April 2014 - N°17 - BW Confidential

Table of Contents for the Digital Edition of BW Confidential - Issue #17 - March/April 2014

Cover
Comment
Contents
Update
Brand & retail news recap
Companies on the move
Take note Market facts, figures & trends
Best of BW Highlights from our e-publication
Launches The latest in fragrance, skincare & make-up
Interview Guerlain ceo Laurent Boillot
Insight: Make-up
Category overview
Budget brands
The latest trends
Retail
Innovative strategies
Retail
Vending machines
Store concepts
Digital Social media content
Market watch: Latin America
Regional overview
Mexico: country analysis
Mexico: prestige retailing
Colombia: country analysis
Colombia: prestige retailing
Argentina: country analysis
Argentina: prestige retailing
Radar A profile of six up-and-coming beauty brands
Emerging markets Company profile: Mahogany
Travel retail: Brazilian travelers
Analysis
Industry viewpoint
Packaging: Decoration techniques
Trends analysis
Innovations
Last word Diagonal Reports analyst Jacqueline Clarke

BW Confidential - Issue #17 - March/April 2014