This reflects a very challenging environment, including a decline in CFT market in Brazil and still pandemic effect in key markets for the Body Shop and Avon with Omicron wave. And we were affected by that. Mr. de Oliveira Marques was previously employed as an Executive VP & President-North American Region by Mondelez International, Inc. and a Group Chairman-Consumer North America by Johnson & Johnson. So we're very pleased to the market share gains and hence, why we are actually over investing with Aesop at this point. We created ones for sustainability, digitization and retail and very recently we created one for innovation and product development. Thank you, Guil. Natura &Co posted net revenues of R$40.1 billion in 2021. Then on top of that, there was a significant amount, as Roberto explained, that comes from the transformational savings, which again is what it seems is restless implementing in the different countries, different parts of the organization Avon International, right? In regarding to the top line, again, as I said, we are projecting still a challenging first half both because of the macroeconomic situations still pressure in disposable income, which, as we know, in many of the markets that we operate, we are seeing highs in inflation which has a direct impact on discretionary consumer goods, which were part of that. Brazilian cosmetics company Natura officially closed its acquisition of Avon, making the combined company the fourth largest pure-play beauty company in the world. This enables dividend distribution based on realized profits in the amount of BRL 180 million as part of our value creation for shareholders. Total revenues in these 2 markets are less than 5% and contribution to EBITDA margins even less than that. Well, let me start by saying that we are -- we strongly support the idea of a thorough tax reform in Brazil that will help the country driving productivity up. Looking at each business segment in the quarter against Q4 '19, revenue was up in reais at all of our brands. This site is protected by reCAPTCHA Enterprise and the Google, fighting against climate crisis, non-animal testing, campaigns against domestic violence and breast cancer, sourcing ingredients in a sustainable way and working with local communities, all those values are common values. On working capital, we are working to address excess inventory in the next 2 quarters on top of simplifying our portfolio structure and planning site to deliver bigger savings in the medium term. And we'll continue to evaluate the opportunities as they come. Jan felt at this point it would be better for him to step down, and I worked with him to find his replacement. A reset of our group and governance structure is the right direction and I'm committed to helping Fabio and the Board over the coming months. So in regarding to Avon International, part of the improvement on margin is the structural changes that we've been implementing over the last 2 years. Moreover, we are comparing against an exceptionally strong comparable base as we had posted 24% growth in Q4 of 2020 versus the same period in 2019. Actually, I would like to go back to the waterfall chart you guys showed. Natura &Co is announcing today a Group reorganization in line with its strategic direction to increase the accountability of the individual Business Units and brands - Natura, Avon, The Body Shop, and Aesop. WWD: One part of Open Up Avon was focusing on product innovation. Not easy to do, but I think, again, the team is coming together, working very collaborative in a way that we can potentially put in place measures to offset and to mitigate some of that pressure, right? We also faced continued cost pressure from higher inflation, supply chain disruption and strong exchange effects even as we continue to invest in the business for future growth. We are progressing with registration, and we are targeting to enter in China with a physical presence toward the end of this year. This is just adjustments that we do throughout the year on our variable compensation. Thank you very much for your attention. Every summer, the NYBG showcases the . Have a good day. He has served as Board member to the Consumer Health Care Products Association (CHPA), to Enactus, the worlds largest experiential learning platform, the Grocery Manufacturers Association (GMA) and the Brazil-U.S. Business Committee in the U.S. Chamber of Commerce. Top News Stories Alerts Straight to your Inbox. In the full year, net revenue was up 2.5% in reais versus full year '20 and down 4.3% at constant currency. All brands were able to expand adjusted EBITDA margin in Q4, with the exception of Aesop due to organic investments. So if you had to think about Avon International, I'll start with the gross margin, I'll start with the transformational savings. right? So we chose not to invest. Thank you very much, Roberto, and hello to everyone. If were smart about this cross-selling and up-selling, that in my mind is the [even bigger opportunity] than [international expansion]. So the first question on the Wave 2, I'm going to invite JP to talk about it and then Guil can talk about some of those discretionary savings. Box Office: 'Spider-Verse' Returns to No. Roberto Marques . with another quarter of double-digit growth. [Operator Instructions] The next question comes from Ruben Couto with Santander. And again, we feel that we have a strong track record of doing that. Thanks. 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We think the size is going to help us amplify the message we believe is relevant. In Brazil, Avon was down 27.2%. And I hope you all understand that. Now hes tasked with running one of the largest beauty behemoths in the world. So going forward, I can only tell you that the portfolio is even more adjusted to the needs of the market. The first thing is probably what makes people come to work every day and the reason why I think we can be extremely relevant this notion that we are purpose-driven at heart. Get Roberto Marques's email address (r*****@its.jnj.com) and phone number at RocketReach. And then my main question, just on the cost containment. This is what we are able to materialize at this point. That's it from our side . Roberto Marques is the Executive Chairman of the Board of Directors, and Group CEO of Natura &Co, a purpose-driven and customer centric beauty group of iconic brands including Avon, Natura, The Body Shop, and Aesop. But what we are seeing is actually an impact that goes beyond that, right? The Avon brand in Brazil and Hispanic LatAm combined was down 12.3% in the quarter. Charitable Solicitation Disclosures Roberto joined Natura in 2016, and in 2017 became the Executive Chairman of the Board, leading the transformation of the Natura . For the sake of timing, in order for us to accommodate questions from all of you, we'd like to ask you to please limit yourselves to 1 question each in the Q&A session. At Avon, weve named Angela [Cretu]. But what we are doing is actually, again, putting in place a very strict austerity in terms of spending, both in terms of CapEx and OpEx, to try to protect the margins, especially in the short term. And obviously, some brands have seen some declines. But as expected, it is still impacted by a 9.3 percentage drop in the number of representatives. As you kind of project forward in terms of additional savings to actually mitigate some of this challenging environment, as Guil said, there is a combination of many things. Read More . But the 4.7% basically, they are savings in some categories that we didn't have in Q4 2020 and one-off impacts, right? This allow us to pay a dividend of BRL 180 million, in addition to BRL 140 million rise in share repurchase through the end of the quarter, underscoring commitment to create value for our stakeholders. This margin improvement is coming from Avon International, reflecting structural changes in addition to strict financial discipline across the group and also synergies in LatAm that were ahead of the plan, offsetting continued costs and FX pressures. They can become influencers in their own community. Roberto Burle Marx was born on August 4th, 1909, in So Paulo, but spent most of his life in Rio de Janeiro. Data is a real-time snapshot *Data is delayed at least 15 minutes. And then the second part of my question goes on the cost pressures, right? R.M. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Brand health, for example, Natura just came again with a report as the most admired brand across all categories in Brazil, in Peru. Youve already signed up with this email address. . Prior to Natura &Co, Roberto was EVP/President of North America for Mondelz International, and for 25 years held a number of international executive roles at Johnson & Johnson. When we talk about Open Up Avon, [were talking about] digitization rebooting the direct-selling into social selling and networking, opening channels for consumers to buy products. Roberto Marques - Executive Chairman and Chief Executive Officer Guilherme Castellan - Chief Financial Officer Jao Paulo Ferreira - Chief Executive Officer of Natura &Co Latin America. Roberto Marques, Executive Chairman of the Board of Directors, Group CEO, Natura & Co sits down with Bloomberg Green's Aaron Rutkoff at the Bloomberg Green Summit at COP26 to share how. Thanks for signing up!Keep an eye out for updates straight to your inbox! Joe, Roberto here. Roberto Marques, current Group CEO and Executive Chairman, is stepping down from these roles. Roberto Marques, Natura & Co's Group CEO and Executive Chairman, stepped down from both positions in June. Exec. This is mainly due to planned higher investments in digital categories and geographies to drive future sustainable growth. This website stores data such as cookies to enable site functionality including analytics and personalization. This underscores our sustainability-oriented innovation. Contact. I've always been an admirer of Natura, of its leadership in sustainability, and the very successful business it has become, said Barbosa. But presumably with an 18% contraction in the network skewed towards the least productive reps, what happened with the remainder? And ever since, we have been seeing improving number in total count of reps, the number of active reps, the consecutiveness of all the reps, especially the 1 and 2 starred reps as well as productivity. That's our assumption, right? And actually, we are already seeing Avon picking up volume in very -- in many categories where consumers are trading down. WWD: The big question here is what is your strategic vision for driving the core businesses going forward? We totally understand that most of them are recurrent and we do also understand that first half '22 should be a little bit more challenging with everything that's happening, supply chain, commodity prices and et cetera. Please enter a valid email address (formatted as name@company.com). Let me now on Slide 4 quickly take you through the main highlights of the quarter and the year. Natura & Co CEO Marques on Pricing Pressures bloomberg-markets-european-close May 14th, 2021, 9:15 AM PDT Natura & Co. Executive Chairman & Group CEO Roberto Marques speaks to Bloomberg's.
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