Early Life
Miguel Krigsner was born in La Paz, Bolivia, on January 9, 1950, to a Jewish family. His parents, Jacob and Anneliese Krigsner, were of Polish and German descent, respectively. In 1961, at the age of 11, he and his family immigrated to Brazil, settling in Curitiba, Paraná. The family's move to Brazil was motivated by their escape from the turmoil in Europe after World War II.
Rise to Success
Krigsner's entrepreneurial journey began in 1977 when he founded O Boticário. He used his knowledge from his pharmacy and biochemistry degree from the Federal University of Paraná (UFPR) to start a small compounding pharmacy. He began experimenting with creating lotions and shampoos, selling his perfume blends at the Curitiba Airport. His perfumes gained popularity, and through word-of-mouth, Krigsner built the foundation of his company. O Boticário quickly expanded, and Krigsner was a pioneer in franchising in Brazil. He developed iconic national perfumes, such as Acqua Fresca and Malbec. Krigsner served as CEO until 2008 and then became Chairman of the Board. He owns approximately 80% of the business.
Key Business Strategies
One of Krigsner's key business strategies was establishing a strong franchise model, which allowed O Boticário to expand rapidly throughout Brazil. The company also focused on product innovation and marketing. Furthermore, the company has expanded into international markets, with stores in over 40 countries. The Grupo Boticário's multi-brand, multi-channel ecosystem, focusing on customer needs, has been integral to its growth, including its e-commerce platform and physical retail stores. Krigsner also created the Grupo Boticário in 2010 with his brother-in-law, Artur Grynbaum, which includes brands like Eudora and Quem Disse, Berenice?
Philanthropy
Miguel Krigsner has been dedicated to social causes and environmental protection. In 1990, he founded Fundação O Boticário de Proteção à Natureza, one of Brazil's main environmental NGOs, which receives 1% of Grupo Boticário's net income annually. The foundation has sponsored 800 conservationist projects, supporting environmental education programs and direct fauna and flora protection actions throughout Brazil.