Grupo Boticário: Crafting a Multi-Brand, Multi-Channel Global Beauty Powerhouse

This case traces the evolution of Grupo Boticário from a single-brand perfumery in Brazil to a multi-brand, multi-channel beauty powerhouse. As the company builds one of the world’s largest proprietary distribution networks and deepens its ecosystem model, CEO Fernando Modé faces a series of complex strategic choices. These include how to balance brand autonomy with operational integration, how to scale innovation across channels, and whether to prioritize growth through adjacencies or international expansion. Drawing on the company's past attempts to go global and the lessons from domestic scaling, the case highlights the trade-offs between focus and diversification. It invites discussion on how an emerging-market leader can navigate complexity, maintain agility, and execute strategy in a fast-moving, consumer-driven industry.

This case invites students to explore how an emerging-market champion like Grupo Boticário evolves from a focused mono-brand company into a multi-brand, multi-channel beauty powerhouse. It opens space for discussion around the choices and trade-offs involved in scaling complexity: how to balance brand autonomy with ecosystem coherence, how to structure the organization to support both innovation and execution, and how to preserve agility and cultural strength as the company grows. It also encourages students to reflect on what it means to maintain a consumer-centric mindset while building the capabilities required to operate across increasingly diverse channels and business models. One of the central dilemmas in the case is how Boticário should prioritize its next phase of growth. Should the company continue doubling down on its leadership in Brazil, invest further in adjacent categories like wellness and professional beauty services, or revisit international expansion with a more mature and localized approach? Students are invited to step into the shoes of CEO Fernando Modé as he navigates these decisions, drawing on lessons from the company’s past and the ambitions that lie ahead.