Cosmetics sales in Brazil grew 18% from January to June 2009, the Brazilian Toiletry, Perfumery and Cosmetic Association (ABIHPEC), said in a release. This index is based on a conservative estimation of sales in May and June. “The final figure could be even better than 18%,” commented João Carlos Basilio da Silva, the association’s president.

The progression is much higher than initially expected by ABIHPEC and the association is therefore revising its projection of growth for 2009 from 5% to 11%. The industry revenue would therefore total 24 billion Brazilian reals (US$12 billion) in 2009, up from BRL 21.7 billion in 2008, said ABIHPEC.

João Carlos Basilio da Silva, President of ABIHPEC

According to João Carlos Basilio da Silva, these good results in a period of economic slowdown may be explained by the fact that despite the context the Brazilian cosmetics industry remained committed to investments, innovation, product development and launches.