2023-12-28 18:31:50
Digital influencer Bianca Andrade, owner of the makeup brand Boca Rosa Beauty, does not hide from anyone that she is inspired by Kylie Jenner, the controversial youngest of the Kardashian clan who created a cosmetics brand valued at US$1.2 billion.
In a move similar to that of the American influencer, who sold 51% of her company to Coty in 2020 for US$600 million and is now trying to buy back the brand she founded, Bianca also wants total control over her Boca Rosa.
In October, the influencer who was born in the Maré favela, in Rio de Janeiro, announced the end of a five-year partnership with Payot, which produced, distributed and sold Boca Rosa products.
In 2022, the makeup brand created in 2018 had revenues of R$180 million. In the licensing model, Bianca kept 12% of the revenue and Payot kept the remaining 88%.
The percentage in licensing contracts is usually around 8% to 10% — however, as she is the face of the brand, all marketing was up to Bianca’s company, which can consume up to 5% of a brand’s total revenue.
In other words, the arrangement no longer seemed so advantageous for the influencer, who more than tripled her reach on social media since the partnership with Payot began, going from 6 million to 19 million followers on Instagram.
From 2024, the 29-year-old influencer will have full control of the Boca Rosa production chain. Production will be carried out by an outsourced company — the same model used by Payot, which closed its factory in 2017. The French brand in Brazil has been owned by the Grotkowski family since the 1960s.
“I wanted to build my production chain from scratch. Choosing suppliers, which I mightn’t do, bringing innovations and creating an extremely quality product for the market,” Bianca told Brazil Journal.
The expectation is that the company will produce 500,000 units per month, which represents an increase of around 60%.
With an average ticket of around R$60, the brand will relaunch its entire makeup line, which has 60 items, and plans to reach 70 SKUs in this new phase.
Bianca also intends to create a skin care line. The investment forecast is R$15 million, which will be financed with the company’s cash, as well as all the changes that are now taking place in the company.
Bianca doesn’t want anything to do with partners or investors, although she has already been approached regarding selling her brand.
“I don’t think we will need investors to reach our goal of earning R$1 billion by 2030,” said Bianca, who briefly participated in BBB in 2020.
The strategy of maintaining stand-alone is seen as peculiar in a market characterized by partnerships or acquisitions — as occurred in 2020 with the purchase of influencer Nati Vozza’s brand by the Soma group.
“It seems to be challenging to internalize costs such as distribution, imported inputs and scale the business,” says Vinícius Strano, who covers retail at UBS BB.
It is also a fact that the size of the cosmetics and personal care market in Brazil — the fourth largest in the world, with annual revenue of R$138 billion — leaves room for great ambitions.
With the end of the Payot contract, Bianca is now free to have her own e-commerce platform, which should be launched in June 2024. The expectation is that e-commerce alone will earn R$80 million in the first year of operation.
Today, the main distribution channels are department stores, pharmacies and websites specializing in cosmetics. Bianca also intends to set foot in physical retail. Two stores are planned for 2025, one in São Paulo and another in Rio.
Fabiane Stefano
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