L Catterton announced it will combine Bel Cosméticos (Bel) and Mundo do Cabeleireiro (Mundo), creating a multi-brand specialty beauty retail platform in Brazil, with more than 130 stores across key Brazilian states.

The combined company will leverage its increased scale to expand its assortment in haircare, skincare, cosmetics, and fragrances across the price spectrum, reinforcing its aspiration to become the first truly national beauty specialty retail leader in Brazil.

With limited geographic overlap and complementary regional strength, the combination establishes a scaled platform with an expanded national footprint, well-positioned to serve consumers and brand partners throughout Brazil.

Ramiro Lauzan, a Managing Partner in L Catterton’s Latin American Fund, commented,

“We are excited to bring Bel and Mundo together to build the first truly national ‘beauty destination’ in Brazil. Ivo, Celso, and Marina have built exceptional businesses in their respective regions. By combining their strengths and leveraging our global beauty expertise, we believe the merged company is well-positioned to become the partner of choice for both consumers and suppliers across the country.”

Celso Moraes, Co-founder of Mundo, will serve as CEO of the combined company. Ivo Barbosa, Founder of Bel, and Marina Moraes, Co-founder of Mundo, will join the Board of Directors and remain actively involved in the business, ensuring continuity of leadership and culture.

With greater scale and geographic coverage, the company will provide suppliers with a more consistent and robust route to market, supporting stronger collaboration, enhanced product launches, and broader distribution. 

The combined platform also sees meaningful opportunities for disciplined expansion through new store openings and selective acquisitions over time.

Founded over three decades ago, both companies have built strong regional brands and customer loyalty by offering curated assortments of beauty products at compelling value. 

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