Bonds News

Brazil's Natura sees e-commerce growth, promises to keep jobs for two months

SAO PAULO, April 8 (Reuters) - Brazilian cosmetics maker Natura & Co Holding is seeing growth in e-commerce as a way to smooth reductions in revenue caused by the world coronavirus crisis, Chief Executive Roberto Marques said in an interview on Wednesday.

Marques declined to disclose the net effect of the crisis on the company’s revenue, but added part of the drop caused by the closure of stores is being offset by higher use of digital platforms.

E-commerce sales doubled in Brazil since the first quarantine measures, the CEO added, without giving specifics. Natura has adapted its production lines to increase output of personal hygiene products such as soap, hand sanitizer and moisturizers as demand for them grew, Marques told Reuters.

The company has promised to keep jobs of its 40,000 workers for at least two months and has eased terms for independent consultants responsible for the bulk of its sales, creating credit lines to help them.

Marques said Natura’s cash position of 4 billion reais ($770 million) is robust to face the crisis, considering the company has no relevant maturities of its debt through the end of the year.

$1 = 5.1930 reais Reporting by Tatiana Bautzer Editing by Marguerita Choy