Natura reported its Q3 2025 financial results. Consolidated net revenue was $985 million, down 3.8% year-on-year in constant currency. 

The results reflect the slowdown in the beauty market in Brazil, along with temporary and expected operational impacts from the integration with Avon in Argentina and Mexico.

João Paulo Ferreira, CEO, said, 

“We are confident that profitability will improve in the next quarter and remain committed to expanding our EBITDA margin for the full year 2025. Mexico stabilized toward the end of the quarter, and Argentina is already showing signs of recovery. At the same time, the efficiency and cost containment measures already underway will further support profitability improvements. We remain focused on expanding our leadership in Latin America, including Brazil, while accelerating growth and profitability in Hispanic markets, particularly Mexico.”

The Mexican operations showed a recovery in performance throughout 3Q25. In Brazil, the Natura brand ended the quarter with revenues stable year-over-year, while in Hispanic America, it posted growth across all countries except Argentina, where stability is expected from early next year.

Natura continues to make consistent progress in its omnichannel strategy. Both digital and retail channels sustained accelerated growth, reinforcing their role as important drivers of revenue. 

Retail expansion remained robust, with 89 new stores opened in Brazil and 32 in Hispanic America in the period.

Corporate Simplification

In 3Q25, Natura completed its integration with Avon across Latin America. 

The corporate simplification process also advanced with the completion of the sale of Avon operations in Central America and the Dominican Republic. 

Additionally, the company announced an agreement to sell Avon International, excluding Russia, with closing expected in 1Q26, and continues to make progress on strategic alternatives for the Russian operation. 

The Avon brand in Latin America remains under Natura’s management.