Early Life
Miguel Gellert Krigsner was born on January 9, 1950, in La Paz, Bolivia, to Jewish parents who fled Nazi persecution. His family moved to Curitiba, Brazil, when he was 11 years old. In Curitiba, his father opened a clothing store. Krigsner later graduated from the Federal University of Paraná with a degree in Pharmacy and Biochemistry in 1975.
Rise to Success
Krigsner began his career by opening a small compounding pharmacy in Curitiba in 1977. With an initial investment of around $3,000, he started creating custom-made cosmetics, creams, and shampoos. Observing the demand for his products, he began selling them and perfumes, which were popular with flight attendants. This led to the establishment of the first O Boticário retail store. His business expanded through a franchise model, making it the largest cosmetics franchising network in the world. Krigsner served as CEO of O Boticário until 2008, when he became chairman of the board.
Key Business Strategies
A key strategy was the expansion through franchising, which rapidly grew the business across Brazil and internationally. Additionally, Krigsner's focus on quality, Brazilian-inspired beauty products, and strong customer relationships contributed to the brand's success. He also adapted to changing market conditions. O Boticário was the first to use artificial intelligence for perfume development.
Philanthropy
In 1990, Krigsner founded the Boticário Group Foundation for Nature Protection, which receives about 1% of the company's annual net income to support environmental conservation. He also supported the creation of the Holocaust Museum in Curitiba.