Dallas, Texas-based Mary Kay Inc. has opened in Peru. The cosmetics giant celebrated with a ribbon-cutting ceremony on Sept. 15 in Lima. With a 54-year history, and operations in nearly 40 countries, this expansion strengthens Mary Kay’s already solid foundation in Latin America.
The globally recognized company, with millions of Independent Beauty Consultants around the world, made an initial investment of $9 million USD in the Peruvian subsidiary. It is based in Lima, covering operations for the entire country. The company enters its newest market, following its recent and successful launch in neighboring Colombia in 2015.
“We are proud to further expand our operations in Latin America with the opening of Mary Kay Peru,” says David Holl, President and CEO for Mary Kay Inc. “As the demand for high-quality products increases and the entrepreneurial spirit strengthens with the country’s economic growth, we anticipate a successful launch in Peru.”
The concept of direct selling has been growing in Peru for the past 40 years. In 2016, World Bank ranked Peru 50th (out of 189 countries) for ease of doing business. Direct foreign investment in the country totaled $7.7 billion USD in 2015.