Brazilian joins billionaire rank after selling Grupo Boticario
Miguel Krigsner (63) is the latest Brazilian self-made businessman who joins the billionaire ranks, after selling his company, Grupo Boticario to Carlysle Group for an estimated US$2,7 billion (Forbes estimate). Grupo Boticario, Brazil’s second largest beauty company owns brands such as O Boticario and Eudora. According to Forbes, Brazil’s beauty market hit US$43 billion in sales with a growth of 142% in 5 years. Within less than 2 years, Euromonitor estimates Brazil’s beauty market will overtake Japan.