Natura Revenue Pressured by Brazil’s Hispanic Growth

Natura is navigating a fascinating dichotomy in its global strategy, demonstrating robust acceleration in new markets even as it addresses persistent hurdles in its core domestic market. In Q2 2026, the company reported revenue of BRL 5.2 billion, but the story is far more compelling when examining the differing trajectories across continents.

While the Brazilian operation faced headwinds—straining under product availability issues, temporary tax mismatches, and a generally subdued consumer environment—other regions were delivering significant momentum. Hispanic America proved to be a dynamic growth engine, recording 7.2% constant-currency growth supported by strong recovery in key economies like Argentina and sustained activity in Mexico.

This regional success translated directly into stronger profitability. Across the region, the Natura brand saw impressive growth of 12.3%, while Avon contributed to the overall positive momentum with a 4.7% increase. This demonstrates that beyond the domestic challenges, the company’s new operating model is successfully unlocking stronger commercial gains outside Brazil.

Financially, the overall picture remains encouraging. Consolidated EBITDA reached BRL 620 million, reflecting a healthy 12% margin and a sequential improvement of 470 basis points. This growth confirms that strategic adjustments are beginning to yield tangible results.

To stabilize and propel performance in Brazil during the second half of the year, Natura is executing a focused operational recovery plan. The strategy involves rebalancing the supply chain, introducing sales-force incentives, accelerating store openings, and expanding its digital presence through the Minha Loja platform and entry into new marketplaces.

This targeted approach signals a commitment to revitalizing the Brazilian market while simultaneously leveraging the success achieved in Hispanic America. The focus remains firmly on innovation, with the company pledging continued investment in marketing, research and development, and digital transformation to ensure sustainable future growth.

By Ava Taylor