March 2024

SAO PAULO — Brazil is on the point of dance. Buffeted by three years of recession, heavy taxes, soaring unemployment and lingering political turmoil, the country’s beauty industry — ranked number 4 on the earth — is starting to search out its footing and regain its rhythm. “Last 12 months was the 12 months of recovery in Brazil,” said Artur Grynbaum, chief executive officer of Grupo Boticário, one in all the country’s leading beauty corporations, who noted that gross domestic product has suffered severe contractions since 2014 and predicted it might take a decade for the general economy to achieve prime condition. As for now, though, “It’s more normal.” Daniel Rachmanis, president of Latin America for the Estée Lauder Cos. Inc., can be bullish....