How rich is Eduardo Belmont?
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Eduardo Belmont net worth & biography:“Once a woman experiences our products, she often wants to take the next step and build a business around it. She can grow her business through individual contacts, parties, or a combination of both.” Eduardo Belmont was born on 20 November 1945 in Miraflores, Lima, Peru. His parents were Ramon Fernando Belmont Bar and Carmen Rosa Anderson Ruiz. He is the owner and president of Belcorp, which is a door-to-door cosmetics company that operates in 16 Latin American countries and the U.S. Eduardo is a citizen of Peru.
Eduardo Belmont Net Worth $6.1 Billion Dollars
He is 68 years old, married to Luisa Maria del Rosario Grana Podesta and lives with his three children in Lima, Peru. He is basically a self-made businessman and has worked really hard make his wealth grow and eventually become the richest man in Peru. Eduardo graduated with Bachelor of Arts from the University of North Carolinaat Chapel Hill. He has also had additional degrees from Harvard Business School and Wharton.His cosmetic firm called Yanbal was jointly owned by him and his billionaire brother Fernando. Eduardo and Fernando Belmont Anderson founded founded direct-sales beauty firm Yanbal in 1967. They split in 1988 each forming his own enterprise after a major row regarding its future strategy. While Fernando just added International to the Yanbal name, Eduardo came up with a new one named Belcorp. Since the partition the two have hardly communicated with each other. Belcorp and Yanbal, both decline to comment about any details on Fernando’s or Eduardo’s stakes. However, according to Forbes, the brothers own at least 95% of each other’s company’s shares. During Peruvian Chamber of Commerce or other business meetings in which both men have been called to participate, they always send non-family executives to represent them.
Belcorp and Yanbal sell a range of beauty products using the Avon-style door-to-door model in over a dozen Latin American markets. In 2011, Belcorp had revenues of $2billion Yanbul had an estimated $720 million. Both companies are competing with Brazil-based Nature, which uses the same business model and is publicly traded. The two brothers behind the fast-growing Peruvian cosmetic companies, Yanbal International and Belcorp, have tapped into unceasing demand for beauty and skin-care production in Latin America. Their Huge success has pushed them into the billionaire territory. According to an interview in July 2012, Fernando is 69 years old and married with one child, Janine Belmont, who now runs Yanbal. Fernando lives in Lima, reportedly attended university in the U.S. Success of his firm is Belcorp. The company runs programes designed to help its consultants through life-coaching and training in business development. The motive behind these programs are to empower them to build their own enterprises within the corporate structure. Belmont says, “When a woman joins one of our programmes, we consider her part of the Belcorp family. She will learn self-confidence as well as business creation and soccial networking, and specifically she learns how to become an independent entrepreneur.” Belcorp’s aim is to offer beauty brands at affordable prices and also provide an opportunity of creating a business around it. “Its an integrative approach. We work together to make a contribution to our community. We’re not just a company worried about our financial bottom line, our bottom line includes the personal, financial and emotional gowth of our beauty advisers.” , Belmont says. Belcorp took its signature line of luxury beauty and skin care products to the Uniteed States in 2005. After he saw that growth was modest, Belmont took the risk of moving from the company’s traditional single-level direct selling model, in which distributors buy products from the parent company and sell them directly to customers, to the multi-level marketing model which is more commonly used in the U.S. Multi-level marketers make money in two ways. One is by buying products from the parent company and selling them to customers. The other method is by recruiting and sponsoring new direct sellers, earning a percentage of their sales too.
In the United States, the company has expanded into a field team-building model. This model offers a ninety-day step-by-step training programme designed to help new consultants become successful quickly. Thus joining Belcorp is inexpensive and translates into a fast return of investment. A website with the support of a back-office management suite of online businesss tools is helping new consultants to become immediate e-commerce entrepreneurs. He plans to continue to grow the company and turn it into the top prestige cosmetics direct seller in the United States. There’s every reason to expect that he could achieve it because of the hard work he has done. As of March 2013, Eduardo Belmont has an estimated net worth of $6.1 billion. Being one of the richest man in Peru, Belmont has entered the Forbes’ list of world billionaires. His firm Belcorp has an estimated sales of $2 billion. Belcorp has eight thousand staff members and a network of nearly nine hundred thousand independent beauty consultants. According to Yanbal’s corporate financial director Juan Carlos Rodriguez, the firm is working to more than double its sales to $2 billion by 2017-in part fueled by an ambitious European expansion- to become one of the world’s top 10 direct cosmetic sellers.