Natura & Co, owner of the Natura, The Body Shop and Aesop brands, announced that it intends to invest up to $ 5 million in new beauty and wellness brands in Europe and the US through venture capital funds, streighten thus its portfolio of brands.
Natura’s net income for the first quarter grew 72.8% year-on-year to R $ 41.9 million (US $ 10.66 million), below a consensus estimate of R $ 59.1 million compiled by Refinitiv , as higher expenses overshadowed revenue gains.
According to Roberto Marques, chairman of Natura’s board, despite challenging conditions in major markets, the company is still on track to meet previously established targets and continue to de-leveraging.
“Dynamo Beauty Ventures is the first instrument that meets our criteria and outbreaks from now on; and we anticipate that there will be more of these initiatives in the future, “said the chairman of Natura’s board of directors, in a teleconference with analysts on the first quarter results. He emphasized that the company expects to reduce its net debt / EBITDA to 1.4 times by 2021, compared with 2.95 times at the end of March this year.