By Exec Edge Editorial Staff
Home solutions provider Betterware de Mexico S.A.P.I. de C.V. (Nasdaq: BWMX) reported a surge in fourth-quarter revenue following the acquisition of Jafra Mexico and Jafra USA.
Revenue rose 48% to 3.229 billion Mexican pesos ($177 million) . For 2023, the company expects revenue to rise 15% to 23%.
“We move forward as a diversified group, with cosmetics and discretionary products in our portfolio, and unique brands in different market segments in Mexico and the USA. We intend to leverage the acquisition of JAFRA to bring Betterware to the US by the end of 2023. Central America is also a natural expansion opportunity for our Group, and we will be working this year to enter the region in 2024. We will go to South America until 2025, starting with Colombia and Peru,” said Luis G. Campos, Executive Chairman of the Board at Betterware. “While the macro-economic environment remains challenging and uncertain worldwide, we are confident that the initiatives we are implementing in Betterware and Jafra will result in near and long-term revenue growth, increased profitability, and value creation to our shareholders.”