"Must-have" products for Latin American women leads to double-digit growth for Alberto Culver despite last year's economic crisis.
BY JOACHIM BAMRUD
Despite the ugly economic crisis last year, Alberto Culver fared beautifully in Latin America. The U.S. company, which produces and sells hair- and skin-care products, managed to boost sales by double digits last year.
“The crisis didn’t impact us,” says Andres Ramirez, Latin America vice president for U.S.-based Alberto Culver.
The main reason? Producing “must-have” products, he says.
”The main difference between Latin America and other markets, we have the …vainest women in the world,” Ramirez says. In the case of all the countries, women [see] beauty as a [must] in Latin America. They cut a lot of expenses at home, but do anything to keep themselves looking beautiful.”
Added to that come factors such as the fact that Alberto Culver is a medium-sized company, with room to grow, he points out.
The company did see a negative impact when local, Latin American currencies appreciated against the US dollar last year. The Brazilian real and Colombian and Mexican pesos all gained in value last year compared to the U.S. dollar.
“Momentarily profits fell, but the company never stopped investing in the brands,” Ramirez says.
Meanwhile, Alberto Culver actually benefited ...
Keywords: Argentina, Caribbean, Central America, Chile, Colombia, Dominican Republic, Mexico